Ethiopia: World Bank Assents U.S.$1.3 Billion Finance to Ethiopia

Ethiopia and World Bank have signed a 1.3 billion dollar grant and loan agreement to enhance equitable services and reduce food insecurity. The agreement was signed by Abraham Tekeste (PhD), minister of Finance & Economic Cooperation (MoFEC) and Carolyn Turk, World Bank's country director for Ethiopia, Sudan, and South Sudan.

From the total amount, 700,000 million dollars will be used for the implementation of Enhancing Shared Prosperity through Equitable Services (ESPES) program while the remaining 600 million dollars will support the Productive Safety Net Program (PSNP).

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