Ethiopia inks $400 mln financing deal with World Bank

The World Bank (WB) has signed a financing agreement with Ethiopia of a total $400 million to boost human capital development in the East African nation, the Ministry of Finance disclosed on Wednesday.

The deal also targets “strengthening service delivery and accountability, in all regions including areas affected by conflict, droughts, and high levels of refugees,” the statement added.

The signing ceremony came on the final day of the ‘Africa Heads of State Human Capital Summit’ in Tanzania comes follows the approval of another $730 million grant by the WB for the Addis Ababa- Djibouti corridor upgrade plan.