Eritrea
- Eritrea’s economy grew by 8.7% in 2011 owing to the commencement of full operations in the gold and silver Bisha mine and to the production of cement from the cement factory in Massawa; GDP is estimated to have contracted sharply to 5.5% in 2012 because of an unanticipated drop in production at Bisha mine, a fall in remittances and a decline in the price of gold over 2011- 12; the economy is expected to improve to 7% in 2013 and to grow by 6.5% in 2014, driven by gold production in the Koka and Zara mines and by copper production in the Bisha mine.
- Domestic and foreign private investment is largely constrained by macroeconomic and structural constraints relating to fiscal management, state intervention and controls in foreign trade and exchange, weak and uncompetitive financial institutions, weak infrastructure and general shortages in skilled manpower.
- 16/12/2011 - The African Development Fund Supports the Education Sector in Eritrea with a USD 19.2 million Grant
- 25/11/2011 - Domestic Resource Mobilization for Poverty Reduction in East Africa: Lessons for Tax Policy and Administration
- 28/05/2010 - AfDB-Eritrea: USD 12.9 Million Grant To Support Higher Education
Project Portfolio
| Reference | Project | Status |
|---|---|---|
| P-ER-IAE-001 |
Support to Technical and Vocational Education and Training - Stvet Project Categories: Human Capital Development, Education |
OngoingOnGo |
| P-ER-IAD-001 |
Support to Higher Education Development Categories: Human Capital Development, Education |
OngoingOnGo |
Contacts
Mr. Kupukile Mlambo
African Development Bank Group
Temporary Relocation Agency (TRA)
15 Avenue du Ghana
P.O Box 323-1002, Tunis-Belvédère, Tunisia
Tel: (216) 7110-2889
Location
Key Facts
| Flag: |  |
| Capital: | Asmara |
| Area: | 118,000 sq km |
| Total Population 2012: | 5.6 Million |
| Urban Population 2012: | 22.61% |
| Female Population 2012: | 50.68% |
| GDP: | US$ 3.1 Billion |
| GNI Per Capita 2012: | US$ 430 |
| Inflation Rate: | 17.00% |
| Crude Birth Rate (per 1000): | 34.78% |
| Human Development Index (rank / 187): | 181 |
| Human Development Index (scale 0 to 1): | 0.351 |
| Membership Date: | 13/05/1994 |
| Cumulative Approvals (1967-2012): | UA 105.7 Million |
