|Approval Date||03 Jul 2020|
|Signature Date||04 Jul 2020|
|Planned Completion Date||30 Jun 2021|
|Last Disbursement Planned Date||31 Dec 2021|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
The proposed grant of UA 120 million to the Federal Democratic Republic of Ethiopia, from the country’s ADF-15 Performance Based Allocation is to finance the Ethiopian Government’s COVID-19 National Emergency Response Plan (NERP). This Crisis Response Budget Support operation is provided in compliance with the Bank Group’s COVID-19 Rapid Response Facility (CRF),approved by the Boards of the Bank and the Fund on 8th April 2020.
The objective of the proposed operation, the Ethiopia COVID-19 Crisis Response Budget Support (ECRBS) program, is to support the Federal Democratic Republic of Ethiopia’s NERP to contain the spread of COVID-19and to mitigate the economic and social impacts of the COVID-19 pandemic on local businesses and vulnerable households, particularly the urban poor. The operational policy objectives of the program are: (i) increased social protection coverage to mitigate the impact of the pandemic on the most vulnerable; (ii) enhanced capacity to contain COVID-19 pandemic; and (iii) addressing macro-fiscal imbalances and mitigating the effects of the crisis on the private sector.
The programme will benefit the Ethiopian people by contributing to protection of macroeconomic stability and supporting a more inclusive economic recovery. The direct beneficiaries from the program are households, private sector, financial sector actors and recipients of social protection grants, including orphans, the elderly, personswith disability and the urban poor. The program measures will also support strengthening capacity and expansion of health systems in order to improve and strengthen basic service delivery.
African Development Fund
MINISTRY OF FINANCE AND ECO. DEVELOPMENT
|Last Update||07 Aug 2020|