Thu. Jun 20th, 2024

Ethiopia to receive $200 million financial assistance from World Bank

The world bank, /Getty Images

Ethiopia is set to receive 200 million U.S. dollars in financial assistance from the World Bank, an Ethiopian official said Wednesday.

“The funds will be used to build skilled manpower and boost the capacity of state-owned technical and vocational training institutes,” Ethiopian Minister of Labor and Skills Development Muferiat Kamil said in a Facebook 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 U.S. dollars in support of the reconstruction and recovery of conflict-affected areas of Ethiopia. The 300 million U.S. dollars financing accord, which was made in the form of a grant, will be used to finance activities designed to support communities in conflict-affected areas to reaccess basic services of education, health and water supply. The projects will be implemented in selected districts of Ethiopia’s conflict-affected Amhara, Afar, Tigray, Oromia and Benishangul-Gumuz regional states.

Source(s): Xinhua News Agency

By Chala Dandessa

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