Ministry Signs $200m Agreement with World Bank

May 8 , 2021


Ministry Signs $200m Agreement with World Bank

Last week, the Ministry of Finance and the World Bank agreed to a 200-million-dollar loan meant to finance a nationwide digitisation project, in line with the ten-year development plan aimed at creating jobs in the technology and telecommunications fields, and encouraging private-sector involvement. The project is to be implemented between now and October 2026. It has three main components: integration of digital technology to increase internet access, facilitation of cost-effectiveness of digital technology to make payment for digital services reasonable, and ensuring the expansion and sustainability of jobs created using digital technology. The Ministry and the World Bank had also inked a 907-million-dollar agreement just a few weeks ago for development support to be applied to increase access to electricity and cushion against the impacts of COVID-19, among other things.


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