World Bank Funds Basic Services

from All Africa

BuaNews (Tshwane)

Addis Ababa

Ethiopia and the World Bank on Thursday signed two agreements for financing basic services such as healthcare and water, amounting to $256 million.

The first agreement signed was for a grant amounting to $215 million meant to serve as an additional resource to Ethiopia's ongoing Protection of Basic Services programme aimed at protecting the delivery of basic services at local levels.

The grant is meant to contribute to the deepening of transparency and accountability in service delivery.

It is also meant to finance projects in the health, education, agriculture and water sectors and assist the country in meeting health sector Millennium Development Goals (MDGs).

The second agreement signed was for the provision of a $41 million loan intended to finance the implementation of the Ethiopia-Sudan Power Inter-Connection Project.

The project is aimed at promoting Ethiopia's power export capacity.

Minister of Finance and Economic Development Sufian Ahmed and World Bank Country Director for Ethiopia and the Sudan Kenichi Ohashi signed the agreements. - BuaNews-NNN