World Bank to provide war-torn Ethiopia with $715 million

Image
A woman collects grain at a camp for the Internally Displaced People in Adadle district in the Somali region, Ethiopia, January 22, 2022. (File photo: Reuters)

ADDIS ABABA - The World Bank on Friday agreed to provide $715 million in grants and loans to Ethiopia, which has been ravaged by drought and a devastating conflict, the country’s government said.

Several international partners have suspended aid since the outbreak of conflict between the federal government and rebels in the Tigray region in November 2020, which has become a humanitarian crisis.

In a statement, the Ethiopian Ministry of Finance announced the signing of a “financing agreement” with the World Bank.

It includes “$600 million ($200 million in form of grant and $400 million in form of credit), for the implementation of the Food Systems Resilience program.”

These funds “will be used to finance the improvement of the resilience of food systems and food insecurity preparedness”, the ministry said.

The agreement is then set to provide grant funding of $115 million for a Horn of Africa pastoral economies project.

This will “enable the region to adapt to the impacts of climate change, commercialize livestock production in pastoralist communities, and ensure inclusion of the marginalized and vulnerable groups such as women in the sector,” the ministry said.

Some observers noted a link between the funding and the Ethiopian government’s recent announcement of a “humanitarian truce”, which had been called for by Washington.

Ethiopian Prime Minister Abiy Ahmed announced on June 19 that a committee was studying possible peace negotiations with the Tigray People’s Liberation Front.

In April, the World Bank gave Ethiopia a $300 million grant to help communities affected by the conflict.

Related Articles

Sudanese military denies bombing UAE ambassador's residence in Khartoum

The U.N. says nearly 25 million people – half Sudan’s population – need aid, famine is looming and some 8 million people have fled their homes.

  • Africa

    02-10-2024

  • 10:52AM

Over 60 people killed in Kenya's deadly protests, Amnesty says

This marked Ruto's biggest crisis as the president as he was forced to come up with a new cabinet, removing quite a number of his close friends.

  • Africa

    26-09-2024

  • 10:56AM