Ethiopia, WB Ink 350 Mil. USD Financing Agreements

Addis  Ababa  June 3/2019 Ethiopia and World Bank (WB) have signed a financial agreement amounting to 350 million US dollars today that will be used for the implementation of the Lowland Livelihood Resilience Project (LLRP).

Finance Minister, Amhed Shide and World Bank Country Director for Ethiopia, Carolyn Turk signed the agreements on behalf of the Ethiopian Government and the World Bank respectively.

According to Ministry of Finance, some 280 Million USD financial support has been secured in the form of concessional credit and 70 million USD in the form of grant.

The project has four major components namely Integrated Rangeland Development and Management, Livelihood Improvement and Diversification, Improving Basic Services and Capacity Building and Project Management and Monitoring and Evaluation, it was indicated.

The agreement will improve the livelihood resilience of Pastoral and Agro-Pastoral communities in Ethiopia, the Ministry stated.