World Bank to Provide 4.9 Billion USD for Ethiopia Featured

17 May 2017
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Addis Ababa May 17/2017 The World Bank Group disclosed that it will provide 4.9 billion USD for land, watershed restoration and women entrepreneurship projects as well as the Productive Safety Net program.

World Bank Managing Director, Kristalina Georgieva, held discussion today with Deputy Prime Minister Demeke Mekonen on ways of further enhancing partnership toward eradicating poverty.

After the discussion, the Georgieva told journalists that the World Bank is preparing country partnership framework and the national envelope for Ethiopia is in the order of 4.9 billion USD.

“I was reporting that the World Bank will be able to provide very sizeable support for Ethiopia for the next three years”, she added.

The Managing Director noted that “together we have achieved tremendous progress in addressing the most important priorities of the government to make sure that poverty continues to decline.”

Ethiopia has made huge progress in reducing the number of people living under poverty and to work in encouraging the entrepreneurship potential of this great country, Kristalina Georgieva said.

She appreciated the commitment of federal and local authorities in all of what she saw in the areas of cooperation. 

Georgieva said “I also see that the results of these programs are incredibly positive”, adding that “Ethiopia is moving up and we are proud to be partners in achieving very good results for people here”.

Deputy Prime Minister Demeke Mekonnen said on his part Ethiopia has been working to sustain the country’s effort to maintain and ensure inclusive growth; and World Bank is one of its strong partners in this regard.

The bank’s support towards eradicating poverty and women entrepreneurship as well as infrastructure, education, health, among others, are encouraging, he added.

The Deputy Prime Minister expressed his hope that the bank would continue its support to Ethiopia, especially in areas of risk management and climate change.

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