Ethiopia, World Bank sign 470 Mln Dollar financing agreement - EthioArtist

Ethiopia, World Bank sign 470 Mln Dollar financing agreement

 

 

Ethiopia, Addis Ababa, December 21, 2017 (FBC) – Ethiopia and the World Bank today signed a financing agreement amounting 470 million US dollars.

The agreement was signed between Dr Abrham Tekeste, Ethiopian Minister of Finance and Economic Cooperation and Carolyn Turk, World Bank Country Director for Ethiopia. 

According to the agreement, 300 million US dollars of the total funding will be utilized to support the government of Ethiopia in its continued efforts to improve the provision of quality education nationwide. 

Over the past decade, Ethiopia has made positive strides in the education sector, and has significantly improved the quality of teaching and learning conditions in 40,000 primary and secondary schools across the country, the bank said. 

The remaining 170 million US dollars will be used to boost the contribution of the livestock and fisheries sectors to Ethiopia’s economy. 

The project will be principally implemented in 58 Woredas (districts) in Amhara, Benishangul-Gumuz, Gambella, Oromia, SNNPR, and Tigray regional states with crosscutting activities of the project having a national coverage. 

Posted by Amare Asrat

 

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