The Government of the Federal Democratic Republic of Ethiopia and the World Bank have signed a significant USD 1 billion Financing Agreement under the Second Sustainable and Inclusive Growth Development Policy Operation (DPO). The financing, composed of a grant and a concessional loan, is aimed at supporting Ethiopia’s ongoing economic reform agenda and promoting inclusive development.
The agreement reflects the World Bank’s continued commitment to backing Ethiopia’s wide-ranging reform efforts. Key focus areas include ensuring financial sector stability, boosting trade competitiveness, improving domestic revenue mobilization, enhancing transparency and efficiency in public sector governance, and safeguarding the sustainability of social services.
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“This operation is a vital step toward supporting Ethiopia’s macroeconomic and structural transformation,” said Ethiopia’s Minister of Finance, H.E. Ahmed Shide, who signed the agreement on behalf of the government. Ms. Maryam Salim, World Bank Division Director for Ethiopia, Eritrea, Sudan, and South Sudan, signed on behalf of the World Bank Group.
The Government of Ethiopia expressed deep gratitude for the World Bank’s steadfast partnership, especially in advancing priorities outlined under the Homegrown Economic Reform Program. This agreement further cements the strong and enduring collaboration between Ethiopia and the World Bank in their shared pursuit of inclusive and sustainable development.
