Infrastructure
Parliament Approves $145.8 Mln World Bank Loan to Upgrade Addis Ababa Power Grid
BirrMetrics · 5 hours ago · Read the Full Story on BirrMetrics
AI SUMMARY
The Ethiopian parliament has unanimously approved a $145.8 million loan from the World Bank to modernize electricity transmission infrastructure in Addis Ababa.
- The House of Peoples’ Representatives unanimously ratified a 145.8 million US dollar loan agreement with the World Bank's International Development Association on October 13, 2026.
- The agreement was approved under Proclamation No. 1441/2019 to fund the first phase of the Power Sector Reform, Investment and Modernisation Project.
- Financing will be used to construct new substations, upgrade existing facilities, and install underground power transmission lines in Addis Ababa.
- Government chief whip and minister Fekadu Tesemma stated that the project addresses increased power distribution demand driven by residential, commercial, and industrial expansion.
- Fekadu noted that the loan agreement aligns with Ethiopia's borrowing and debt management strategy.
- The parliamentary announcement did not disclose the loan's interest rate, repayment period, grace period, implementation timetable, or allocation breakdown.
- In a separate development, parliament considered a motion supporting President Taye Atske Selassie's address on federal annual plans, which awaits final approval before Prime Minister Abiy Ahmed.
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