World Bank Approves $300m for Recovery Project


World Bank Approves $300m for Recovery Project

The World Bank has approved 300 million dollars in loans and grants for the Response-Recovery-Resilience Project. Approved last week, the project looks to meet the urgent needs of conflict-affected communities, targeting over five million people throughout the country. The project will support efforts to address the immediate needs of communities, rehabilitate/recover infrastructure destroyed by conflict, and increase community resilience to the impacts of conflict by improving access to basic services. The project prioritises support provision to the Afar, Amhara, Benishangul-Gumuz, Oromia, and Tigray regional states, which have been highly impacted by armed conflict and host large numbers of internally displaced persons (IDPs). Half of the 300 million dollars is provided as a grant. The majority of the financing (210 million) will go into a component dubbed "improving Access to Basic Services and Climate-resilient Community Infrastructure", which looks to establish improved access to basic services and climate-resilient community infrastructure for conflict-affected communities in selected weredas.  Since 1960, the World Bank has provided 458 billion dollars to 114 countries. Annual commitments have averaged around 29 billion dollars over the last three years, with over two-thirds going to Africa.


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