Ethiopia Garners $350m Developmental Aid

Jul 29 , 2023


World Bank pledges 400 million dollars in development financing to Ethiopia targetted at education, nutrition and rehabilitation of war-affected areas. The agreement was virtually signed between Minister Ahmed Shide and Country Director Ousmane Dione last week. According to the announcement made by the Ministry, the 50 million dollars is given in the form of credit while the rest is set aside as developmental aid. It was revealed recently that up to 20 billion dollars in financing would be required to rehabilitate the war-devastated regional state of Tigray alone while Ahmed indicated that significant foreign assistance would be required to return to a war economy while proposing next year's austere budget to parliament two months ago.


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