Ethiopia receives US$1.5 billion in support from the World Bank

Ethiopia has received US$1.5 billion from the World Bank to support its economic reforms. This financial assistance includes a US$1 billion grant and a US$500 million loan. This is reported by ENA, a partner of TV BRICS.

The Ethiopian Ministry of Finance said that this assistance is a testament to the strong relationship between Ethiopia and the World Bank.

The World Bank is the largest source of development finance for Ethiopia. In the last five years, Ethiopia has received more than US$2 billion a year from the World Bank, half of which was in the form of grants.

The agreements were signed between Ahmed Shide, the Minister of Finance of Ethiopia, and Maryam Salim, the World Bank Country Director for Ethiopia, representing the governments of Ethiopia and the World Bank, respectively.

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