World Bank extends 645m USD in the form of loan to Ethiopia

Addis Ababa  April 10, 2017 GMN0) - The World Bank has extended 645 million USD in the form of loan for the implementation of development projects in Ethiopia.

The fund will finance activities aimed to enhance water supply and sanitation services, improve efficiency of trade and logistics infrastructures as well as quality assurance.

Of the total amount, 445 million USD will be used to enhance water supply and sanitation services in the capital Addis Ababa and 22 cities across the country.

The project is aimed at scaling up water supply and sanitation services in the cities is expected to improve lives of residents.

Some 150 million USD is allocated for a project intended to modernize the logistic services of the country by upgrading the dry port in Modjo, in the outskirts of Addis Ababa.

By upgrading the Mdjo Dry Port, the country is expected an enhanced import-export trade.

The remaining 50 million USD will be used to increase the efficiency of institutions engaged in quality assurance.

State Minister of Finance and Economic Cooperation, Admasu Nebebe and WB Country Director to Ethiopia and South Sudan, Carolyn Turk signed the agreement.(ENA)