Ethiopia to Get U.S.$ 550 Million World Bank Loan


The World Bank’s Board of Executive Directors on Wednesday approved a total of USD 550 million for Ethiopa in a bid to improve the livelihoods of pastoralists and the nation’s ongoing power sector reforms.

USD 350 million (USD 70 million grant USD 280 million credit) was secured from the International Development Association (IDA) will be used to improve the livelihoods and resilience of 2.5 million pastoralists and agro-pastoralists in low land areas, the bank said in a statement on Wednesday, according to APA news.

The Low lands Livelihood Resilience Project approved by the bank will help to improve the livelihoods and resilience of pastoral and agro-pastoral communities in Ethiopia by addressing their binding constraints, the statement said.

“The project will put communities in charge of their own development priorities by enabling them to identify, lead and manage local development initiatives,” said Carolyn Turk, World Bank Country Director for Ethiopia, Sudan and South Sudan.

The project will reduce long-term environmental degradation and communities’ vulnerability to climate change related droughts. (APA)

Third phase social accountability program launched

The Third Ethiopia Social Accountability Program (ESAP), a program which works to improve equitable access to basic services and strengthen accountability systems at decentralized level, was launched on Thursday.

The ESAP is part of the Enhancing Shared Prosperity through Equitable Services Project (ESPES) for Ethiopia that aims to improve equitable access to basic services and strengthen accountability systems at decentralized level.

Improving quality and accessibility, the second phase of ESAP was successfully implemented from 2011-2018 in 223 woredas in Ethiopia in five basic sector-education, health water and sanitation, rural roads and agriculture, according to a statement from the program.

The Ethiopia government and development partners have now launched a third phase of the program, scaling up the project to 500 woredas (half of the total woredas in the country).

According to the statement of ESAP, the World Bank will administers the Multi Donor Trust Fund. Around 30 million USD will be dispersed to over 100 civil society organization grantees implementing the program at woreda level. (ENA)

PM visits community members In West Guji Zone

Prime Minister Abiy Ahmed (PhD) on Wednesday visited Guji and Gedeo community members who returned recently to their villages in Kercha woreda, West Guji zone.

The PM was accompanied by Deputy President of the Oromia Regional State, Shimelis Abdisa, Deputy President of the Southern Regional State, Million Mathios, and Minister of Peace, Muferiat Kamil.

More than 3,000 displaced community members from the woreda have returned to their village now.

On the occasion, they asked the government to ensure durable peace, increase its rehabilitation program, and provide them with the necessary support so that they will begin farming in the upcoming rainy season.

The Prime Minister for his part pledged that the government will do all it can, including in supplying select seeds.

He also urged the community members to stand united and work together for peace.

The delegation led by the Prime Minister also provided the community with building materials for reconstruction of their homes, according to the Office of the Prime Minister. (FBC)

MTN eyes Ethiopia entry

MTN Group Ltd. has identified Ethiopia as a rare new market into which Africa’s largest wireless carrier wants to expand.

“There are a few large markets that are under-penetrated and where there is scope for a No. 1 or No. 2 operator, like Ethiopia,” Chief Executive Officer Rob Shuter said in an interview at Bloomberg’s London office. “That’s obviously one where we would be really excited to participate, in some way.”

The move would fit with the Shuter’s focus on markets in which the carrier can be a major player, and where there’s an opportunity to seize on a consumer shift to mobile banking and other data services from voice. He’s been pulling MTN out of regions that don’t fit that strategy and is looking to sell holdings where it doesn’t have a controlling stake.

Ethiopian Prime Minister Abiy Ahmed said last year he is looking to bring in private investors to the country’s telecommunications sector for the first time. (Bloomberg)


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Publish date : 2019-06-03 10:22:22

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