World Bank to provide $400 million to Ethiopia

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The World Bank today inked an agreement with the Ministry of Finance of Ethiopia to provide $400 million for the east African country for it urban programs.

The programs include productive safety nets program in cities of Ethiopia and job creation. The deal is inked between Minister of Finance of Ethiopia Ahmed Shide and Ousmane Dione, World Bank Country Director for Ethiopia, Eritrea, Sudan and South Sudan.

At the signing ceremony it is indicated that the Government of Ethiopia will also allocate additional $150 million for the implementation of the program aimed to be executed within the five years. It is indicated that 83 cities and towns in Ethiopia will be benefiting from the programs.

Some 798,500 people living below poverty line will benefit from the programs expected to be officially launched in the coming two weeks.