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The Board of Executive Directors of the World Bank approved the Eastern Electricity Highway project designed to link Kenya onto Ethiopia’s electrical grid with the aim of allowing power sharing between the two countries.

The World Bank will give 243 million US dollars to Ethiopia and 441 Million US dollars to Kenya from the International Development Association, a fund intended for the poorest countries in the world.

The project is part of the first phase of a program that is planned to implement power integration in the East African region which will ultimately cost an estimated 1.3 billion US dollars and benefit 212 million people living in five regional countries.

World Bank has allowed Ethiopia USD 370 million loan on May 18, 2015 for further expansion of its transportation system and provision of safe and efficient roads, Ethiopian News Agency reported.

World Bank (WB) has released fund for the construction of six pedestrians’ overpasses in Ethiopia’s capital, Addis Ababa, according to the city’s road authority.

Ethiopia and World (WB) sealed a 370-million-USD loan agreement to support the Ethiopian Expressway Development project, Ethiopian News Agency reported.

To help Ethiopia mitigate the effects of the COVID-19 pandemic in the country, the World Bank Group’s Board of Executive Directors approved $82.6 million ($41.3 million grant and $41.3 million credit) from the International Development Association.