Africa Development DFI Economy Ethiopia Finance

World Bank to provide US$400M to Ethiopia

The World Bank today inked an agreement with the Ministry of Finance of Ethiopia to provide US$400M for the east African country for its urban programs.

The programs include productive safety nets program in cities of Ethiopia and job creation. The deal is inked between Minister of Finance of Ethiopia Ahmed Shide and Ousmane Dione, World Bank Country Director for Ethiopia, Eritrea, Sudan and South Sudan.

Also read: Ethiopia: moving towards Ethio Telecom liberalisation

At the signing ceremony it is indicated that the Government of Ethiopia will also allocate additional US$150M for the implementation of the program aimed to be executed within the five years. It is indicated that 83 cities and towns in Ethiopia will be benefiting from the programs.

Some 798,500 people living below poverty line will benefit from the programs expected to be officially launched in the coming two weeks.

Source: New Business Ethiopia

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