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Ethiopia secures $250m W/Bank loan

Ethiopia's Ministry of Finance signed a $250 million loan agreement with the World Bank on Friday geared toward improving equitable…

Ethiopia’s Ministry of Finance signed a $250 million loan agreement with the World Bank on Friday geared toward improving equitable access to essential services for its population.The loan to be used for the implementation of  what is called Enhancing Shared Prosperity through Equitable Services (ESPES) Project aims to enhance health and education as well as agricultural activities in selected districts across the country.

“This project focus on promoting the delivery of services such as basic education, primary health care, agricultural extension advice, water, and rural roads through a highly decentralized system,” the Ministry of Finance said.

ESPES program aims to leverage the government’s broad program of service delivery to promote equity, enhance quality and institutionalize critical systems, especially at the district level.

The World Bank, last April, provided Ethiopia some $700 million as loan and $207 million as grant. 

   

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