Mar 21 , 2020

The Board of Executive Directors of the World Bank approved half a billion dollars of financing to support the Homegrown Economic Reform Plan, which the government rolled out recently.

Half of the support will be provided as a base, while the remaining is given as a grant.

The reform plan, which will be implemented in the next three years, aims at rebalancing macroeconomic fundamentals and sustaining growth.

The fund is approved under the Bank's second phase of the Competitiveness Development Policy Operation (DPO) that provides both financial and technical support to Ethiopia’s economic reforms.

The Operation is designed to help Ethiopia revitalise its economy by broadening the role of the private sector and attaining a more sustainable development path.

The second DPO focuses on three pillars: maximising finance for development, improving the investment climate and developing the financial sector, and promoting transparency and accountability.

PUBLISHED ON Mar 21,2020 [ VOL 20 , NO 1038]

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