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The World Bank’s Board of Executive Directors approved an International Development Association (IDA) credit of $50 million for the National Quality Infrastructure (NQI) Development Project aimed at improving the competitiveness of Ethiopian industries. It will support the Government of Ethiopia’s (GoE) efforts to develop the country’s standardization practice, metrology, accreditation, and conformity assessment services—inspection, testing, and certification.

The World Bank’s Board of Executive Directors approved US$ 320 million to finance a new type of asphalt road in Ethiopia, according to Capital.

The World Bank inked 33 million USD loan with Ethiopia.

The loan agreement was signed by Ahmed Shide, State Minister of Finance and Economic Cooperation, on Ethiopia’s part and Carolyn Turk, World Bank Country Director for Ethiopia, Sudan and South Sudan, on the bank’s behalf.

The World Bank has granted 6 million USD to one of public universities in Ethiopia, Haromaya University. The grant is to assist the higher learning institution’s effort to become one of the leading research center of excellence in the African Continent.

Menzwerk Grefie, the Coordinator of the Small and Medium Enterprise Finance Project, revealed that a fund of USD 200 million was allocated for the project from the World Bank. This newly allocated budget came after the USD 276 million fund which was provided by the World Bank previously.

According to the Coordinator, the World Bank approved the funding considering the pressure caused by the global outbreak of Covid-19 on small and medium enterprises. The fund will be used for the provision of machine leases, operational loans, and business development services, it was learnt.