Ethiopian Parliament Approves USD 145.8 Million Loan for Power Sector Modernization
The Ethiopian Parliament has ratified a $145.8 million concessional loan from the International Development Association to modernize Addis Ababa's power infrastructure. The project aims to improve electricity reliability ahead of the 2027 COP32 climate conference.
Why it matters
Upgrading energy infrastructure is a key component of Ethiopia's economic development strategy and its ability to host major international climate events.
Ethiopia’s House of People’s Representatives (HPR) has unanimously approved a concessional loan agreement worth USD 145.8 million with the International Development Association (IDA) to finance the first phase of the Power Sector Reform, Investment, and Modernization Project.
The agreement was ratified during the second regular session of the House’s first year under the 7 th Parliament, following deliberations on a draft proclamation approving the supplementary financing arrangement between the Ethiopian government and the IDA.
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