Ethiopia, World Bank sign two financial agreements worth of $745 million

Addis Ababa, January 26, 2023 (FBC) – The Ministry of Finance and the World Bank signed two Financing Agreements amounting to a total of 745 million US Dollars (approximately 39.8 billion ETB) both in the form of grants.

The first Grant Agreement amounting to 445 million USD will finance to implement Program for Results (hybrid) for Strengthening Primary Health Care Services. The second 300 million USD Grant Agreement will be used for the implementation of Flood Management Project.

The Program for Results (hybrid) for Strengthening Primary Health Care Services will be used to improve access to and equitable provision of high quality primary health care services and to further strengthen health system.

The resource for Flood Management Project will be used to strengthen Ethiopia’s institutional capacity for disaster risk management, and flood risk management in selected basins.

The Agreement was signed by Ahmed Shide, Minister, Ministry of Finance and Ousmane Dione, Country Director for Ethiopia, Eritrea, Sudan and South Sudan, the World Bank, representing the Government of Ethiopia and the World Bank, respectively.

Recall that, in December 2022, the World Bank’s Board of Directors has approved the $745 million grant to support improved access to health services and flood management project in Ethiopia.