Ethiopia to receive $200mn financial assistance from World Bank

Ethiopia is set to receive $200 million in financial assistance from the World Bank, an official said here.

“The funds will be used to build skilled manpower and boost the capacity of state-owned technical and vocational training institutes,” Xinhua news agency quoted Minister of Labour and Skills Development Muferiat Kamil as saying in a social media post.

Kamil said she held discussions with World Bank officials on ways to create high-quality job opportunities for Ethiopians.

Both sides also held discussions relating to broad strategic ideas.

The Ethiopian government and the World Bank in May signed a financing agreement amounting to $300 million in support of the reconstruction and recovery of conflict-affected areas of Ethiopia.

The $300 million financing accord, which was made in the form of a grant, will be used to fund activities designed to support communities in conflict-affected areas to re-access basic services of education, health and water supply.

The projects will be implemented in selected districts of Ethiopia’s conflict-hit Amhara, Afar, Tigray, Oromia and Benishangul-Gumuz regional states.




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