The International Development Association (IDA), the World Bank's lending wing that provides lower interest rates, and Ethiopia have signed a 250-million-dollar loan and grant agreement. The agreement was signed over a video call between the Minister of Finance, Ahmed Shide, and Carolyn Turk, the World Bank country director for Ethiopia, Eritrea, Sudan and South Sudan, who is based in Addis Abeba. The funding will be used for combating the Novel Coronavirus (COVID-19) and helping the country accomplish its Second Growth & Competitiveness Programmatic Development Schedule. Half of the loan is a grant, while the remaining is a loan. The agreement is set to encourage private sector participation and promote good governance. It is further expected to support the change and transition the country is currently undergoing, according to a statement from the World Bank. The World Bank plans to deploy up to 160 billion dollars over the course of over a year to help more than 100 countries. This is aimed at protecting the poor and vulnerable, supporting businesses and bolstering economic recoveries.
January 15 , 2022
Foes and friends of Prime Minister Abiy Ahmed (PhD) agree that his administration is...
January 7 , 2022
There has not been much research to put a number on high costs wars inflict on Africa...
January 1 , 2022
It is a norm to emphasise grand structural changes to address the myriad political pr...
December 25 , 2021
In the words of Herbert Hoover, the 31st president of the United States, it is older...
November 27 , 2021
Against my will, I have witnessed the most terrible defeat of reason and the most sa...
November 13 , 2021
Plans and reality do not always gel. They rarely do in a fast-moving world. Every act...
October 16 , 2021 . By HAWI DADHI
Residing in a country with no capital market, an organised marketplace for trading se...
August 28 , 2021 . By HAWI DADHI
The streets of Addis Abeba are as varied as they are many, although too many of them have yet to be named. From the narrow alleyways of the...
