Ethiopia, World Bank Sign over 512 Mln USD Financing Agreement

Addis Ababa December 3/2020 (ENA)  Ethiopia and the World Bank have signed today a financing agreement amounting to 512.5 Million USD.

Minister of Finance, Ahmed Shide and World Bank Country Director for Eastern and Southern Africa, Ousmane Dione signed the agreement.

According to Ministry of Finance, out of the 512.5 million USD, 312.5 million USD is grant while the remaining 200 million USD is credit.

This financing agreement will be used to enhance the implementation of Strengthen Ethiopia’s Adaptive Safety Net Project (SEASN).

The financing will also allow for more geographic coverage, enable better service delivery, and is an important next step in modernizing Ethiopia's PSNP, it added.