World Bank’s President, Dr. Jim Yong Kim, accompanied by the United Nations’ Secretary Genera Ban Ki-Moon are in Ethiopia for a two days visit. They are set to discuss key development priorities with government officials and development partners.

According to Walta Information Center (WIC) the visit of the two figures is intended for a new Horn of Africa Initiative to support regional economic development, peace and security.

They are both set to hold joint meetings with Ethiopia’s Premier, Hailemariam Desalegn.

In addition to the Premier, they will also meet with bilateral agencies and ambassadors of other Horn of Africa countries to discuss how the World Bank and the United Nations can promote inclusive growth and shared prosperity in the region.

WIC also noted the visit is the largest country program in the region. The information center furthered, the program covers sectors of energy, roads, agriculture, water supply and sanitation, education, health, social protection and social safety nets.

IFC, World Bank’s private sector arm, on the other hand provides more than U.S. $ 200 Million for investment and advisory services, and plans to invest an additional $300 million.

Ethiopia is among the founding members of the World Bank and its current portfolio consists of 25 projects along with U.S. $ 6 Billion as commitment.

Source: Walta Information Center