Tigrai Online April 01, 2013
The World Bank and the Ethiopian Ministry of Finance & Economic Development (MoFED) signed a 120 million dollar loan and grant agreement on Friday, March 29, 2013, targeting the improvement of the health sector in Ethiopia.
The loan, which amounts to 100 million dollars, is an interest free loan from the International Development Assistance (IDA) arm of the World Bank, whilst the remaining 20 million dollars is a grant contributed by the governments of the United Kingdom and Norway, according to Rahana Ghandam(MD), the Bank’s risk team leader. The agreement was signed by Sufian Ahmed, minister of Finance & Economic Development, and Guang Zhe Chen, World Bank country director for Ethiopia, at the Ministry’s office on King George Street.
The money will be disbursed over the coming four years, depending on the results achieved in the process.
There are eight health sector areas that will benefit from the agreement, including; contraceptive and immunisation coverage, ante-natal care and skilled birth attendance. Ante-natal care will receive 15 million dollars, whilst the others will each be granted 20 million dollars.
Source: Addis Fortune - http://addisfortune.net/articles/world-bank-puts-120m-in-health-ministry-pouch/