Ethiopia, IFC Partner to Establish 100 Billion Birr Mortgage Refinance Company

Addis Ababa — Prime Minister Abiy Ahmed on Thursday oversaw the signing of a Framework for Cooperation between the National Bank of Ethiopia and the International Finance Corporation (IFC) to establish a dedicated Mortgage Refinance Company. Capitalized at 100 billion birr, the wholesale institution will receive a minimum contribution of 200 million USD from the IFC. The initiative is designed to address long-standing liquidity mismatches in Ethiopia's banking sector while expanding access to mortgage financing nationwide. In a social media post, the Prime Minister said the partnership marks a major milestone in tackling housing finance bottlenecks and promoting financial inclusion across the country. "This partnership is a critical step toward realizing our goal of delivering 1.5 million affordable, dignified homes for Ethiopian families while expanding private-sector participation in our financial system," PM Abiy said. He added that Ethiopia "continues to build a modern, resilient, and inclusive economy." Read the original article on ENA . AllAfrica publishes around 600 reports a day from more than 90 news organizations and over 500 other institutions and individuals , representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica . To address comments or complaints, please Contact us . AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 600 news and information items daily from over 90 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. Get the latest in African news delivered straight to your inbox By submitting above, you agree to our privacy policy . We need to confirm your email address. To complete the process, please follow the instructions in the email we just sent you. There was a problem processing your submission. Please try again later.