The Government of Ethiopia and the World Bank have signed a financing agreement worth USD 1 billion under the Second Sustainable and Inclusive Growth Development Policy Operation (DPO). The package includes both a grant and a concessional loan.
In a statement released today, the Ministry of Finance highlighted that this critical operation demonstrates the World Bank’s continued commitment to supporting Ethiopia’s ambitious economic and structural reforms. The new program is designed to strengthen financial sector stability, improve trade competitiveness, enhance domestic resource mobilization, promote transparent and effective public sector governance, and secure the sustainability of key social services.
The Government of Ethiopia also expressed its deep appreciation to the World Bank for what it described as steadfast and constructive support of the country’s Homegrown Economic Reform Program.
The financing agreement was formally signed by Finance Minister Ahmed Shide on behalf of the Federal Democratic Republic of Ethiopia, and Maryam Salim, World Bank Division Director for Ethiopia, Eritrea, Sudan, and South Sudan, representing the World Bank Group.
Source: Ethiopian News Agency