Ethiopia’s Prime Minister announced that, as a result of the country’s current reforms, Ethiopia would get a USD 1 billion budget support from the World Bank in the coming few months. The World Bank and other donors suspended their budgetary support to the country after the 2005 election.

According to the World Bank and the International Monetary Fund, Ethiopia is one of the fastest growing economies in the continent. Dr. Abiy last met the bank’s president Jim Yong Kim during his tour to the US. At their meeting, the bank’s president told the Prime Minister that the World Bank is ready to give “robust support” for his administration. The Prime Minister said, “The money will be disbursed in the next few months.”

Source: Reuters and Addis Fortune