Ethiopia and World Bank signed $907m financing agreement to fight COVID-19, improve access to electricity (video)


Mereja Media

Ethiopia’s Ministry of Finance signed a $907 million financing agreement with the World Bank aimed at improving access to financing for Small, Medium and Enterprises (SMEs), the fight against COVID-19 and electricity investment.

Some $700 million was a loan and $207 million a grant, the ministry said in a statement.

The ministry said that $200 million will go towards small and medium businesses affected by the pandemic with the aim of easing their financing challenges.

Another $207 million will be for the deployment of COVID-19 vaccines and the remaining $500 million will be invested in efforts to increase access to electricity in the Horn of Africa nation.Video:

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