AfDB Approves $251 Million Loan for Ethiopia
The African Development Bank approved a 251 million US dollar loan for Ethiopia. The two parties signed the loan agreement last Friday at a ceremony held at the Ethiopian Ministry of Finance and Economic Development.
The loan agreement was signed by Ahmed Shide, StateMinister for Finance and Economic Development
and Lamin Barrow, the African Bank’s country representative in Ethiopia.
The loan is intended to finance phase three of the ‘Promoting Basic Services’ program according to the AfDB. The fund will offer budget support to Ethiopia over three fiscal years, to offer block grants to regions in efforts to enhance access to decentralized service delivery in a range of sectors including agriculture, health and education as well supporting improvement to infrastructure such as sanitation, roads and water supply.
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