Ethiopia Ranked Second-Largest Recipient of Trust Fund Disbursements: World Bank Report

EBR_News Mar 12, 2026

Ethiopia ranked as the second-largest recipient of World Bank-executed trust fund disbursements between fiscal years 2019 and 2023, receiving $132 million, according to a new country program evaluation for Indonesia published by the World Bank’s Independent Evaluation Group.

The report, released February 11, 2026, placed Ethiopia behind only Indonesia ($206 million) and ahead of Afghanistan ($101 million), India ($96 million), and Vietnam ($91 million) in trust fund receipts. The figures reflect sustained international financing flows to Ethiopia’s development programs despite global economic pressures.

The document also confirmed Ethiopia’s position as the second-largest recipient of overall World Bank disbursements globally between 2010 and 2022, trailing only Nigeria. Indonesia ranked third with approximately $9.3 billion over the same period.

The trust fund rankings complement a much larger World Bank portfolio in Ethiopia. According to Ministry of Finance announcements, Ethiopia’s active World Bank portfolio stands at approximately $15.5 billion, with $7 billion ready for immediate disbursement. Ethiopia accesses over $2 billion annually in concessional financing from the International Development Association, half of which is provided as grants.

In July 2024, Ethiopia secured an additional $1.5 billion package through the First Sustainable and Inclusive Growth Development Policy Operation, comprising a $1 billion grant and $500 million loan to support economic reforms. More recently, the government signed a $1 billion financing agreement under the Second Sustainable and Inclusive Growth Development Policy Operation in 2025, following an IMF disbursement of $262.3 million.

As of late 2025, the World Bank’s Ethiopia portfolio consists of 45 operations with total commitments of $16.15 billion, spanning agriculture, health, education, energy, transportation, digital development, and trade logistics. The International Finance Corporation maintains an investment portfolio of $357 million, while the Multilateral Investment Guarantee Agency holds $1.03 billion in guarantees primarily covering the telecommunications sector.