|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 Ethiopia COVID-19 Crisis Response Budget Support (ECRBS) program aims to support the Federal Democratic Republic of Ethiopia’s NERP to contain the spread of COVID-19 and to mitigate the economic and social impacts of the COVID19 pandemic on local businesses and vulnerable households, particularly the urban poor. Indeed, Ethiopia ranks among the few sub-Saharan Africa (SSA) countries that have halved poverty within a decade. As of end May 2020, 1,172 cases of COVID-19 had been reported in country, with 209 recoveries and 11 deaths. The impact of COVID-19 on Ethiopia’s economy is likely to be significant and may reverse some economic progress achieved. The operation consists of a UA 120 million grant from the country’s ADF-15 Performance Based Allocation to finance the Ethiopian Government’s COVID-19 National Emergency Response Plan (NERP). This is a Crisis Response Budget Support 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. This program consists of three broad mutually reinforcing components: (i) supporting the health sector response to COVID-19, (ii) supporting the social sector response program against COVID-19 and (iii) safeguarding economic resilience against the after-effects of COVID-19 shocks.
The goal of the program is to support the NERP, Ethiopia’s response plan to the COVID-19 pandemic, which includes strengthening of healthcare service preparedness and response, protection of livelihoods, especially for the vulnerable, and support to private sector enterprises. Consistent with the response plan, the overall operational objective of the proposed operation is to support the implementation of measures to ensure that the country’s healthcare and social protection systems, fiscal position and economy are sufficiently supported to mitigate the negative impacts of the COVID-19 pandemic.
The program 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, persons with 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||18 Oct 2020|