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Ethiopia, World Bank sign grant, loan agreements
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12:39, July 14, 2007

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Ethiopia and the World Bank signed on Friday grant and loan agreements amounting to 232.62 million U.S. dollars.

Some 130 million dollars are allocated to the implementation of "Electricity Access Expansion II Project," which is planned to electrify 295 towns and villages benefiting 1.8 million inhabitants.

"This project will establish a sustainable program to expand access to electricity in rural communities that have long been disadvantaged and marginalized by the low levels of connection," said Luiz Maurer, World Bank task team leader of the project.

Some 100 million dollars were earmarked for the irrigation and drainage project, aimed at developing sustainable irrigation infrastructure for 20,000 hectares of land.

The balance is to be used for "Stockpile Project I," which is part of African Stockpile Program to dispose of publicly-held obsolete pesticide stockpile and associated waste, and implement measures to reduce and prevent future related risks.

The fund for this project is extended by the Global Environmental Facility and administered by the World Bank.

Source: Xinhua

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