21 March 2018

Ethiopia: WB Approves U.S.$600 Million for Ethiopia

The World Bank approved 600 million USD loan and grant agreement agreement yesterday for better urban governance, infrastructures and public services in cities across Ethiopia, according to a statement from the Bank.

The financing targets aimed at strengthening the capacity and performance of local urban governments, expand sustainable urban infrastructure and services, as well as promote local economic development in cities across the country.

World Bank Country Director for Ethiopia Carolyn Turk said that the new investment builds upon the successes of Urban Local Government Development Program (ULGDP) that incorporates important lessons learned and introduce a new approach. "This new approach will help Ethiopia develop a strategy for sustainably financing urban development," she added.

Abebaw Alemayehu, World Bank Task Team Leader for the Project stated on his part that the program would help cities to realize their revenue potential.

Ethiopia is one of the fastest urbanizing countries in Sub-Saharan Africa, with the urban population growing at 3.8 percent a year. Rapid urbanization poses challenges as cities struggle to provide infrastructure, services, and jobs, according to the Bank.

UIIDP will scale up activities initiated under ULGDP to support 73 new cities-for a total of 117-across nine regional states and benefit more than 6.6 million Ethiopians.


Eritrea-Ethiopia Peace Deal Offers Hope for Reform

Eritrea and Ethiopia resumed diplomatic and commercial ties after a 20-year-stand off last week. The countries' leaders… Read more »

See What Everyone is Watching

Copyright © 2018 The Ethiopian Herald. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.