the world bank
the world bank

The World Bank and the Ethiopian government on Friday signed two agreements amounting to 1.3 billion U.S. dollars to support Ethiopia’s development.

Abraham Tekeste, Ethiopian Minister of Finance and Economic Cooperation, said during the signing ceremony in Ethiopia’s capital Addis Ababa that the two agreements will support long-term system building and capacity development together with human development and poverty reduction endeavors.

The first agreement, involving 700 million U.S. dollars, will finance the ongoing Ethiopia’s Enhancing Shared Prosperity through Equitable Services (ESPES) program, which aspires to improve basic service delivery in education, health, agriculture, water supply and sanitation, and rural roads development.

The second grant agreement worth 600 million dollars will finance the planned improvement of Ethiopia’s rural reproductive safety net system under implementation as part of Ethiopia’s national protection policy and social protection strategy, it was indicated.

The rural reproductive safety net program targets to support 8 million food insecure people in Ethiopia’s eight regional states, it was indicated.

According to Tekeste, the Ethiopian government expected the two programs to help propel the country’s economic growth, bringing significant advancement to Ethiopia’s human development efforts. Enditem

Source: Xinhua/NewsGhana.com.gh

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