Summary
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The final scoping study (June 2025) evaluates the feasibility of municipal bond issuance in Ethiopia, analysing the legal authority, regulatory gaps, market infrastructure, investor base and regional fiscal capacity, and concludes with recommendations to establish a clear eligibility framework, oversight mechanisms and investor protections to enable sub‑national financing. It benchmarks Ethiopia against India, Nigeria and Kenya and provides detailed assessments of six regions, highlighting readiness in Addis Ababa and Oromia while noting constraints for lower‑tier governments.
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