Prime Minister Abiy Ahmed (PhD) has announced a major financial milestone as the National Bank of Ethiopia and the International Finance Corporation signed a landmark Framework for Cooperation to establish the country’s first dedicated Mortgage Refinance Company.

Capitalized at 100 billion ETB, with the IFC set to contribute a minimum of $200 million, the new wholesale institution is designed to resolve long-standing liquidity mismatches in the banking sector and unlock accessible mortgage financing for homebuyers across the nation.

Highlighting the deal's broader impact, Prime Minister Abiy noted that the partnership serves as a critical step toward the government's goal of delivering 1.5 million affordable and dignified homes for Ethiopian families.

He added that the agreement will help expand private-sector participation in the country's financial system as Ethiopia continues building a modern, resilient, and inclusive economy.