2merkato

The World Bank has approved a 1.15 billion US dollar loan to fund a range of development activities in Ethiopia according to a statement issued by the bank.

The bank also approved a new Country Partnership Strategy for Ethiopia at the same time. The new strategy is intended to build upon the development of the country to encourage more growth, employment, health and education.

The ban released the interest free credit totaling 1.15 billion US dollars on the basis of the new strategy explained the statement.

The World Bank Board of Executive Directors today approved a 300 million USD International Development Association (IDA) credit to improve mobility along selected corridors in Addis Ababa and the effectiveness of road safety compliance systems throughout Ethiopia.

World Bank’s Board of Directors approved a US$ 200 Million loan to Ethiopia on Thursday, May 29, 2014. The loan is extended to develop Ethiopia’s potential geothermal sites at Aluto and Alaloband sites, in the rift valley of the Afar State.Two of World Bank’s trust funds, International Developmental Association (IDA) and Scaling Up Renewal Energy Program (SREP), are expected to finance the loan.

the World Bank’s Board of Executives has approved a US$380 Million loan to Ethiopia. The loan will be used for improving the capacity and performance of local urban governments to expand sustainable urban infrastructure and services in cities across the nation, according to a press release on the Bank's website.

The Board of Executives of the World Bank approved 200 million US dollars in credit from the International Development Association to invest in the electric power projects in Ethiopia.

The funds will be used by the government to enhance electric coverage in rural areas and to supply modern, affordable and cost effective electricity services in Ethiopia.

The Electricity Network Reinforcement and Expansion Project is designed to support the efforts to upgrade and extend the national grid and to enhance the overall quality of delivery as well as to increase the level of connection in areas already on the grid and to extend connection to areas outside of the gird.