ADDIS ABABA ( Halbeeg News) – The World Bank’s Board of Executive Directors has approved a total of $550 million for Ethiopia.
The funds will support efforts to improve the livelihoods of pastoralists and ongoing power sector reforms in Ethiopia.
The Bank also approved $350m ($70m grant $280m credit) from the International Development Association (IDA) in support of the country’s efforts to improve the livelihoods and resilience of 2.5 million pastoralists and agro-pastoralists in low land areas.
“The project will put communities in charge of their own development priorities by enabling them to identify, lead and manage local development initiatives,” said Carolyn Turk, World Bank Country Director for Ethiopia, Sudan, and South Sudan.
According to official news agency FANA, the project will reduce long-term environmental degradation and communities’ vulnerability to climate change-related droughts. It will also facilitate access to crucial social services such as water resources to communities, upgrade veterinary facilities and help construct key infrastructure such as bridges roads, livestock markets, small scale irrigation schemes.
The project will support the introduction of technologies that improve animal productivity (i.e. milk and meat production). Furthermore, it will improve market linkages and commercialization by facilitating the development of partnerships between private companies and groups of producers.
Similarly, the $200m Renewable Energy Guarantees Program (REGREP) approved by the bank will support Ethiopia’s ongoing power sector reforms and leverage private sector financing for renewable energy generation.
The program will support the Government of Ethiopia’s ongoing power sector reforms and leverage private sector financing for renewable energy generation.
REGREP will support the development of over 1,000 MW of greenfield solar and wind energy Independent Power Producer (IPP) projects in Ethiopia, including the World Bank Group Scaling Solar initiative.
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