Ethiopia to Establish 100 Billion Birr Mortgage Refinance Facility

The National Bank of Ethiopia and the International Finance Corporation (IFC) have signed a cooperation framework to expand mortgage financing in Ethiopia. Prime Minister Abiy Ahmed announced that a mortgage refinance facility will be established with a capital of 100 billion Birr. The IFC will contribute up to 200 million USD towards this capital. The institution is designed to address liquidity and maturity mismatches in the banking sector and improve housing loan accessibility nationwide. Additionally, this initiative supports the government's target of delivering 1.5 million affordable homes. It also aims to enhance private sector participation in the national financial system.