Ethiopia Gets Loan from World BankThe 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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