Ethiopia, World Bank Sign $300 million Financing Deal

ADDIS ABABA – Ethiopia and the World Bank signed a grant agreement amounting to $300 million that supports of the reconstruction and recovery of conflict-hit communities in the East African nation.

The agreement was signed between Finance Minister Ahmed Shide and the Bank’s country director Ousmane Dione in Addis Ababa on Monday.

The singing took place a month after the World Bank approved the $300 million grant to support the recovery of conflict-Affected communities in Ethiopia.

The grant will particularly finance a Response-Recovery-Resilience for Conflict-Affected Communities in Ethiopia Project.

The project, which targets more than five million people, will prioritizes support to selected woredas of Amhara, Afar, Tigray, Oromia, and Benishangul regions.

Finance Minister Ahmed said the project involves two United Nations Agencies as third-party implementers in Tigray.

“The application of this new modality of using third-party implementers shows the government’s commitment to the safety and well-being of the people of Tigray,” the minister said.

The fund will finance the activities designed to support communities in conflict-affected areas to re-access basic Services of education, health, and water supply.

Special support will be given to survivors of gender-based violence within the areas affected by conflict, officials say. The project will help to improve access to health, psycho-social support, and legal services for GBV survivors in conflict-affected regions where quality response services are limited, according to the World bank.

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