The International Finance Corporation has signed a deal with the National Bank of Ethiopia to expand trade and local currency financing as part of broad-based private sector support in Ethiopia.
The agreement will allow IFC to support Ethiopian banks as part of a Global Trade Finance Program.
Under this program, IFC will provide guarantees for trade-related payment obligations for selected Ethiopian banks.
The agreement will also allow IFC to provide loans in Ethiopian under the local currency facility of the World Bank Group’s IDA Private Sector Window.
Similarly, IFC, a member of the World Bank Group, and the National Committee for the Environment of Business (CNEA) have signed a memorandum of understanding to improve business climate in Morocco.
Minister of General Affairs and Governance, Lahcen Daoudi says government will develop a multi-year work plan to improve the business climate and activate reforms using a participatory public-private methodology.
He adds that priority will be given to the most urgent projects to allow the optimal development of the business climate and clarifying the medium and long-term vision of private sector development.
