Ministry, World Bank Sign $250m Deal

Jun 5 , 2021

The Ministry of Finance and the World Bank have signed a 250 million dollar loan agreement for the funding of a project that aims to fortify social services in the country. The Enhancing Shared Prosperity through Equitable Services Program (ESPES) will focus on promoting the delivery of services such as basic education, primary healthcare, agricultural extension advice, water and sanitation, and infrastructure across the country through a decentralised system. The agreement was signed by Finance Minister Ahmed Shide and Ousmane Dione, World Bank country director, during a ceremony held on June 4, 2021. The duo inked a 907 million dollar financing agreement just over a month ago, half a billion dollars of which was funding for a project that aims to bring private sector capital into the energy sector.



A street lamp around Addis Abeba Stadium melds into the concrete backdrop emblematic of the capital's ageing infrastructure. Over the past few years, Ethiopia's electric grid has been subject to destruction and theft, subjecting the public treasury to hundreds of millions in losses. Nearly half of the country's population does not have access to electricity. A series of projects by the World Bank has contributed to the slight but essential upgrade to the nation's grid, including a 500 million do...



A trio of donkeys drag along the main road in front of Menlik School around the Arat Kilo area. While the four-legged domestic animal is a venerated member of the Ethiopian labour force, its skin and meat are increasingly valued in the international markets. Rhong Chang, a donkey slaughterhouse operating in Assela Town, Oromia Regional State reopened its services after a seven-year break two years ago. Public outroar has often accompanied the entrance of donkey abattoirs into Ethiopia since anot...



A bustling market emerges under a bridge in the boroughs of the Bole Michael area. Addis Abeba City Administration has launched a series of aesthetic initiatives embalmed in themes of beautification and urbanisation that have removed thousands of shops built with makeshift tents. Above a quarter of Addis Abeba's labour force is engaged in the informal economy, which while often associated with connotations of illegality, remains a sizeable employer in emerging economies across the world. Calibra...