WB Approves $400m for Productive Safety Net, Jobs

Oct 3 , 2020


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

Historic Africa Hall's $57 million Renovation Eyes Tourists

The iconic Africa Hall, where the leaders of 32 African nations gathered in 1963 to establish the Organization of African Unity (OAU), the precursor to today's African Union (AU) was inaugurated after comprehensive renovation works at a cost of 57 million dollars. Initially designed by Arturo Mezzèdimi, a young self-taught architect, and constructed by Luigi Varnero to serve as the UN's continental headquarters, the hall now looks set to open to the public and add to Addis Abeba's touristic pro...


Radar

Investment Holdings Backs Electric Mobility with Battery Swap Stations

Ethiopian Investment Holdings has made its second joint venture with an electric mobility startup company to avail 100 battery swap stations in Addis Abeba within a year and expand to 300 stations over the next three years. The company, Dodai, plans to offer e-motor riders to quickly exchange depleted batteries for fully charged ones, lowering downtime and is expected to create 100,000 jobs for the youth. Brook Taye (PhD), CEO of EIH and Yuma Sasaki, founder and CEO of Dodai signed a Memorandum...


Radar

Expo Looks to Enhance Underdeveloped Agri Subsectors

A three-day agricultural exhibition assembling stakeholders from the poultry, aquaculture, apiculture, and livestock is set to kick off at Millenium Hall on Airport Road. Organised by Prana Events, the exhibition aims to promote commercial production, increase productivity and enhance the use of technology across the agricultural subsectors by bringing international and local traders together. Over 1,000 exhibitors from 14 countries are expected to attend the event. Nebiyu Lemma, managing direct...


Back
WhatsApp
Telegram
Email