While strengthening the financial sector, expanding trade options, and improving fiscal transparency, this engagement will also boost protections for poor and vulnerable households during periods of economic change. It consists of a $1 billion grant and $500 million concessional credit from the International Development Association (IDA). The World Bank Group is one of Ethiopia’s largest providers of development finance. Looking ahead, the World Bank is committed to supporting Ethiopia’s aspiration of becoming a middle-income country. IFC is planning about $2.1 billion in investments and MIGA expects to grow its engagement, including under the World Bank Group Guarantee Platform.

Source: Ethiopian News July 31, 2024 02:37 UTC