Ethiopia and World Bank Sign $130 Million Financing Agreement

Ethiopia
Ethiopia and the World Bank signed here on Friday two additional Financing Agreements amounting to 130 Million US dollars.

Addis Ababa, Ethiopia  – Ethiopia and the World Bank signed here on Friday two additional Financing Agreements amounting to 130 Million US dollars.
The first Additional Financing Agreement will help fill the financial gap in the implementation of Urban Component of Water Supply and Sanitation Project and partially fund the construction of water supply facilities in 50 towns originally targeted by the project, according to press statement issued by the Ministry of Finance and Economic Development.

The second Additional Financing Agreement will enable to fill the financial gap in the implementation of the Capacity Building Program.

This includes improving the scale, efficiency and responsiveness of the public service delivery at the federal, regional and local levels, among others.

The agreement was signed by Finance and Economic Development State Minister, Ahmed Shide and World Bank Acting Director for Ethiopia and Sudan, Dr. Robert S. Chase.

Speaking on the occasion, Finance and Economic Development State Minister, Ahmed Shide said World Bank has provided 180 million US dollars for the implementation of the ongoing Water Supply and Sanitation Project.

He also mentioned that the bank also gave a sum of 150 million US dollars for the execution of the capacity building program.

He said the government of Ethiopia appreciates the World Bank’s efforts for its substantial support in Ethiopia’s development endeavor.

ENA