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World Bank will provide 4.4 billion birr

The Federal Democratic Republic of Ethiopia signed Financing Agreements amounting to US$ 190 Million (Approximately ETB 4.4 billion) with the World Bank at a ceremony held at the Ministry of Finance and Economic Cooperation (MoFEC) on May 18/2017.

 

Of the total financing agreement amounting to US$ 190 Million (Approximately ETB 4.4 billion), US$ 150 Million (Approximately ETB 3.4 Billion) is from IDA in the form of Loan while US$ 20 Million (Approximately ETB 460 Million) was in the form of Grant from Global Financing Facility and the remaining US$ 20 Million (Approximately ETB 460 Million) in the form of grant from Power of Nutrition.

As per the Agreements, the Loan and Grant will be used to finance the implementation of the Sustainable Development Goals Program for Results Program. The aim of the program is to improve the delivery and use of a comprehensive package of maternal and child health services. The operation specifically targets certain SDG-relevant results which are deemed to be achievable by virtue of activities in the Health Sector Development Plan or (HSDP).       

H.E. Dr. Abraham Tekeste, Minister, Ministry of Finance and Economic Cooperation and Ms. Carolyn Turk, Country Director for Ethiopia, Sudan and South Sudan signed the financing agreement on behalf of the Government of Ethiopia and the World Bank, respectively.