The Government of the Federal Republic of Ethiopia and the World Bank signed a Financing Agreement amounting to a total of 400 million US Dollars

July 27, 2023

The Ministry of Finance and the World Bank virtually signed a Financing Agreement amounting to a total of US$ 400 million (approximately ETB 21.8 Billion) of which US$ 350 Million is in the form of grant and USD 50 Million in the form of credit.

The proceeds from the Loan and Grant will be used to improve the learning outcomes and nutrition services for girls and boys and strengthen service delivery and accountability, in all regions including areas affected by conflict, droughts, and high levels of refugees.

The Human Capital Operation consists of Program for Results (PforR) and Investment Project Financing (IPF) components. The PforR component is aimed to strengthen basic service delivery systems to mitigate the impact of the crises and improve learning outcomes and address stunting in selected Woredas, while the IPF part is designed to provide technical assistance and capacity building support for strengthening systems and delivery of quality services.

The Agreements was signed between H.E. Mr. Ahmed Shide, Minister, Ministry of Finance, and Mr. Ousmane Dione, World Bank Country Director for Ethiopia, Eritrea, Sudan, and South Sudan representing the Government of Ethiopia and the World Bank, respectively.

Ethiopia continues to honor its commitment to prioritize human Capital Development and reaffirmed this commitment at the ongoing Africa Heads of State Human Capital Summit in Dar Es Salaam Tanzania July 25-26, 2023.