Ethiopia, WB sign USD 100mln loan agreement
Ethiopia and the World Bank (WB) have today signed additional 100 Million USD loan agreement to implement the fourth phase of the Productive Safety Nets Program (PSNP IV).
The additional financing will enable the PSNP IV to provide safety net support to households affected by the drought thereby strengthening their resilience, stated Ahmed Shide State Minister of Finance and Economic Cooperation during the agreement signing ceremony.
“The additional loan we just signed today is intended to scale-up PSNP IV supports in response to the El Nino induced drought by Safety nets transfers to chronically food insecure households,” Ahmed said.
“The additional financing will support an estimated 4.5 million PSNP clients in the period from July to December 2016.”
The latest WB fund will help support Ethiopia’s efforts to respond to the ongoing drought.
WB Country Director for Ethiopia, Carolyn Turk on her part said the WB has been working in partnership with Ethiopia and supporting the PSNP since its inception eleven years ago.
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