Finance Minister Ahmed Shide (right) and World Bank’s country director Ousmane Dione. (Photo File)

Ethiopia, World Bank Sign $745mln Grant Agreements

ADDIS ABABA – The government of Ethiopia and the World Bank signed two grant agreements amounting to a total of 745 million US dollars on Thursday.

Finance Minister Ahmed Shide and World Bank’s country director Ousmane Dione signed the two financial agreements following the approval of the grants by the World Bank’s directors in mid-December.

Of the total, the $445 million grant will finance the implementation of a program to strengthen Primary Health Care Services in Ethiopia. 

The program aims to improve access to and equitable provision of high-quality primary health care services and to further strengthen the country’s health system.

More than 22 million women and children, including those in conflict-affected areas are expected to benefit from the program.

“It will also restore facilities that were damaged by conflict, enabling millions of Ethiopians to get access once again to the services they direly need,” Ousmane said when the World Bank approved the fund last month.

$300m for FMP

The second $300 million Grant will also finance another nationwide program named Flood Management Project (FMP).

The project targets enhancing Ethiopia’s institutional capacity to respond to floods as well as flood risk management in selected river basins. 

Nearly 34 million people living in poor communities in the priority basins of Awash, Omo, and Rift Valley Lakes basins are expected to benefit from the project, as per the world bank.