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Ethiopia Gets Loan from World Bank
The World Bank Wednesday approved an economic rehabilitation support credit totaling 150 million US dollars to help Ethiopia stabilize the economy and move back to a sustainable path of growth, according to a diplomat who declined to be named.
The funds will cover the needs of the economy, which is suffering from the impact of a border conflict with Eritrea, drought and a sharp decline of trade.
Since the end of the border conflict with Eritrea, the Ethiopian government has carried out a series of programs aimed at resuming the country's economic and social reform efforts for poverty reduction.
The credit will improve governance through cross-cutting public sector reforms, strengthen public expenditure policy and management, foster private sector development and increase export competitiveness, the diplomat added.
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