WB Approves $400m for Productive Safety Net, Jobs

Oct 3 , 2020


[ssba-buttons]

The board of executives of the World Bank Group have green-lighted a 400-million-dollar grant to the government of Ethiopia for the Urban Productive Safety Net and jobs projects. Of the total grant, 50 million dollars is from the Window for Host Communities & Refugees. The new grant is sourced from the International Development Association, a member of the World Bank Group and the international financial institution providing concessional loans and grants. The grant will be funneled to buffer the country’s efforts to improve the incomes of the urban poor and facilitate the inclusion of disadvantaged urban youth in the labour market. The project is structured under five components, expanding the Urban Productive Safety Net to improve the urban environment; foster urban youth employment; strengthen social assistance and services for the urban poor and destitute; institutional strengthening, project management, monitoring and evaluation; and contingency emergency response. To ensure the aim of the grant for the planned activities is achieved, the project will bring together Federal Urban Job Creation & Food Security under the Ministry of Urban Development & Construction, the Ministry of Labor & Social Affairs, and the Jobs Creation Commission alongside other partners.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...