Ethiopia, WB sign $110m financing agreement

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Addis Ababa, 18 January 2014 (WIC) ¬- The government of Ethiopia and the World Bank (WB) signed on Thursday a 110 million USD loan agreement to support the third phase of the Pastoral Community Development Project.

The objective of the Project is to improve access to community demand-driven social and economic services for pastoralists and agro-pastoralists.

Finance and Economic Development Minister, Sufian Ahmed and World Bank Ethiopia Country Director Guang Z. Chen signed the agreement.

Sufian on the occasion said the objective of the project is to ensure the benefit of the pastoralist community from various social services.

The finance will be used to support construction of health and educational facilities, veterinary clinics, small irrigation schemes and rural roads, among others.

Pastoralists in 113 pastoralist woredas in Afar, Somali, Oromia and South Ethiopia Peoples' State will benefit from the project.

The Country Director Guang Z. Chen for his part said the World Bank has been contributing to the development endeavours being carried out in pastoralist areas for the last 10 years through the project.

According to ENA, He affirmed World Bank's commitment to continue to support development projects in pastoralist areas.

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