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.
April 30 , 2021
Nothing can better describe Ethiopia's state of affairs today than the French idiom:...
April 24 , 2021
There were no surprises when the National Bank of Ethiopia (NBE) decided two weeks ag...
April 17 , 2021
There is not a facet of life in Ethiopia today that is not convulsed by the moral cri...
April 10 , 2021
It is not often the case for regional states' leaders to swallow their vanity and dec...
March 27 , 2021 . By BAMLAK FIKADU
An application developer who has recently taken up hiking to get some exercise, Migno...
February 13 , 2021 . By TADESSE TSEGAYE
In Arada, I stopped over by a hotel in front of Cinema Empire. I sat alone inside wit...
January 30 , 2021 . By FASIKA TADESSE
The Council of Ministers approved a regulation that will establish the Liability &...
January 16 , 2021
It was a sunny day on September 12, 1974. A machine gun mounted on top of a tank was...
