Africa Banking Development DFI Economy Ethiopia Finance Government

World Bank approves $500M loan for Ethiopia

The World Bank’s board of executive directors has approved $500 million from the International Development Association in continued support of the government of Ethiopia’s Homegrown Reform Agenda.

The Second Ethiopia Growth and Competitiveness Development Policy Operation is intended to accelerate Ethiopia’s economic growth and achieve its vision of becoming a lower-middle-income country.

This operation is the second of a series of DPOs and provides both financial and technical support to Ethiopia’s economic reforms.

The operation is designed to help Ethiopia revitalize the economy by broadening the role of the private sector and attaining a more sustainable development path.

Source: TVC News

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