July 07,2022 (ENA) The World Bank (WB) has pledged to provide 5.7 Billion USD support for Ethiopia in the coming three years.
Deputy
Prime Minister and Foreign Minister, Demeke Mekonnen, held talks with
World Bank Managing Director of Operations, Axel van Trotsenberg in
Dakar, Senegal, today.
Demeke
is in Dakar to attend a meeting of the International Development
Association (IDA2022), an institution of the WB which supports Africa’s
recovery.
The
World Bank has allocated 66 billion USD out of the 93.5 billion USD
allotted to low-income countries through IDA 2020 to 39 African
countries
Of this WB has pledged 5.7 billion USD for Ethiopia over the next three years.
During
the discussion, Demeke expressed his confidence that the bank will
continue supporting the peace process in Ethiopia and the effort of
reconstruction.
Trotsenberg
on his part reaffirmed the bank’s commitment to support infrastructure
development, social development, agriculture, regional integration and
economic development over the next three years.
The
deputy premier thanked the World Bank for its support to Ethiopia and
said Ethiopia is working to achieve the country’s prosperity by
formulating the Home Grown Economic Reform, a clear domestic economic
policy.
The Deputy Prime Minister and Foreign Minister invited the World Bank Managing Director to visit Ethiopia.