Addis Ababa, 20 November, 2015 (WIC) – The Ministry of Finance and Economic Cooperation (MoFEC) disclosed that grant and loan disbursement from multilateral sources has increased by 96.8 percent in the first quarter of the current Ethiopian budget year as compared to the same quarter last year.
According to the Ministry’s Public Relation and Communication Directorate Director, Haji Ibsa Gendo, said that the country has received a disbursement of close to 415.4 million USD in the past three months of this budget year as grant and loans to implement projects and programs agreed up on previously. Out of the total disbursement the country received, a little over 135 million USD goes to grant while the remaining 280.3 million USD is concessional loan, noted Haji.
“The disbursement in the first quarter of the current budget year is 96.8 percent up as compared to the disbursement the country received in the first quarter of last fiscal year,” said the director while briefing journalist at the ministry about the current state of Ethiopia’s external financial resource mobilization.
He also noted that the country has also received grant and loan disbursement of a little over 34.5 million USD and 31 million USD from bilateral sources. That adds up the total grant and loan disbursed to the country in the first quarter of the current budget year from both bilateral and multilateral sources to 481 .7 million USD.
Meanwhile, the country signed a commitment agreement with bilateral and multilateral financing partners to receive a grant and concessional loan amounting to 621 million USD in the same period. Out of the total amount a little over 13.7 million USD is grant while the balance, 607.5 million USD, is concessional loan, said Haji.