Telecom

Ethiopia secures $200mln World Bank loan for the digital economy

Ethiopia secures $200mln World Bank loan for the digital economy
Monday, 22 February 2021 17:29

The World Bank announced new support for Ethiopia's digital transformation. The institution is currently working on a new project called Digital Ethiopia Foundations, under which it plans to invest about $200 million to support the country’s digital economy. The announcement was recently made by Ousmane Dione, the World Bank's Country Director for Eritrea, Ethiopia, Southern Sudan, and Sudan.

According to him, the project will provide funds to further strengthen the regulator and to prepare the legal and regulatory elements of the digital ecosystem, in areas such as e-commerce and digital identification. The project will also support the development of digital government services, digital entrepreneurship, and provide a digital response to the Covid-19 pandemic.

The Digital Ethiopia Foundations project is part of the Digital Ethiopia 2025 strategy, an essential component of the local economic reform program and the 10-year national development plan (2020-2030) adopted by the country in 2019. It seeks to make Ethiopia a digital hub across the continent.

The liberalization of the telecommunications sector currently underway, which the World Bank has been assisting since 2019, is the initial phase of the country's digital transformation. Once this 2.0 transformation is effective, it will contribute to national development through sustainable and inclusive economic growth, better governance, and more efficient service delivery.

Muriel Edjo

On the same topic
This successful bond sale not only reinforces AXIAN Telecom’s financial strength but also signals growing investor confidence in African digital...
• Experts at Cyber Africa Forum 2025 stress consumer education to fight cyber threats• Social engineering scams, phishing, and money mule schemes are...
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Nigeria. This marks a major step in its global expansion...
Monthly mobile data traffic per smartphone in Sub-Saharan Africa will rise to 14 GB by 2030. Total mobile data traffic is expected to grow from 2.3...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
03

• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...

Deepfake Threat Becomes Alarming in Africa as AI Advances Faster Than Laws
04

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
05

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.