Ethiopia’s Lenders Slowly Curbing Loans as War Rages On
- Loan disbursements of $774.85 million in first nine months
- Economy is struggling, hurt mainly by fighting in Tigray
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Ethiopia’s lenders have reduced lending to the Horn of Africa nation since the start of the war between federal troops and rebels in the northern Tigray region.
In the first nine months of this fiscal year, Ethiopia received only $774.85 million in disbursements, most of which came from the World Bank’s International Development Association, according to the finance ministry. That compares with $1.41 billion in 2020-21 -- when the war began -- and $3.1 billion in 2019-2020.