https://en.sputniknews.africa/20240731/ethiopia-secures-15-billion-world-bank-support-for-economic-reforms-1067690430.html
Ethiopia Secures $1.5 Billion World Bank Support for Economic Reforms
Ethiopia Secures $1.5 Billion World Bank Support for Economic Reforms
Sputnik Africa
In recent years, the World Bank has been Ethiopia's largest development finance source, with the country currently receiving over $2 billion annually in... 31.07.2024, Sputnik Africa
2024-07-31T13:27+0200
2024-07-31T13:27+0200
2024-08-01T11:18+0200
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Ethiopia has secured a $1.5 billion financial package from the World Bank, aimed at bolstering the country's ongoing economic reforms.The agreement, announced on Tuesday, includes a $1 billion grant and a $500 million loan, representing a significant step in the long-standing partnership between Ethiopia and the World Bank.The deal was signed by Ethiopian Finance Minister Ato Ahmed Shide and Maryam Salim, World Bank Country Director for Ethiopia, Eritrea, Sudan, and South Sudan.The ministry noted that the financial support, part of the First Sustainable and Inclusive Growth Development Policy Operation, underscores the World Bank's commitment to Ethiopia's development aspirations.
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economy, ethiopia, eritrea, sudan, world bank, east africa, loan, development
Ethiopia Secures $1.5 Billion World Bank Support for Economic Reforms
13:27 31.07.2024 (Updated: 11:18 01.08.2024) Muhammad Nooh Osman
Writer/Editor
In recent years, the World Bank has been Ethiopia's largest development finance source, with the country currently receiving over $2 billion annually in concessional financing under the IDA program. Half of this amount is provided as grants. The World Bank's portfolio in Ethiopia now stands at $15.5 billion, with $7 billion ready for disbursement.
Ethiopia has secured a $1.5 billion financial package from the World Bank, aimed at bolstering the country's ongoing economic reforms.
The agreement, announced on Tuesday, includes a $1 billion grant and a $500 million loan, representing a significant step in the long-standing partnership between Ethiopia and the World Bank.
The deal was signed by Ethiopian Finance Minister Ato Ahmed Shide and Maryam Salim, World Bank Country Director for Ethiopia, Eritrea, Sudan, and South Sudan.
The ministry noted that the financial support, part of the First Sustainable and Inclusive Growth
Development Policy Operation, underscores the World Bank's commitment to Ethiopia's development aspirations.
