AfDB Raises $2.5B in Bond Issuance as Ethiopia Continues Economic Reforms

The African Development Bank (AfDB) has raised 2.5 billion US dollars through a global bond issuance, attracting 4.8 billion dollars in orders. This comes as Ethiopia pursues significant economic reforms, including foreign exchange liberalization and external debt restructuring. The AfDB currently supports 27 projects in Ethiopia with a portfolio of 1.3 billion dollars, focusing on infrastructure, agriculture, and energy. While the bond proceeds go to the Bank's general funding rather than directly to Ethiopia, the institution remains a key partner in the country's development. Recent approvals include major funding for the South Sudan–Ethiopia–Djibouti transport corridor and the Aysha Wind Project. However, the Bank’s latest economic outlook continues to identify weak export performance and debt pressure as ongoing constraints for Ethiopia.