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Publish Date : 05-Oct-2017

The World Bank has with the government of Ethiopia inked two deals amounting to 1.3 billion U.S. dollars to support the country's development.

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

The first deal which involves 700 million U.S. dollars, will fund the ongoing Ethiopias 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 deal worth 600 million dollars will fund the proposed improvement of Ethiopias rural reproductive safety net system under implementation as part of Ethiopias national protection policy and social protection strategy.

The rural reproductive safety net scheme aims to support 8 million food insecure people in Ethiopias eight regional states, it was indicated.

Tekeste said the Ethiopian government expected the two programs to help propel the countrys economic growth, bringing significant advancement to Ethiopias human development efforts.

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