Ethiopian Review

Addis Ababa – Ethiopia and World Bank here on Friday signed a loan agreement amounting to 245 million USD, the Ministry of Finance and Economic Development (MoFED) said.

As per the accord, World Bank will be assisting Ethiopia in its efforts toward expansion and upgrading of the various roads located at different parts of the country and improve the capacity of stakeholders in the sector.

MoFED Minister, Sufian Ahmed and World Bank Country Director for Ethiopia and the Sudan, Kenichi Ohashi signed the agreement.

After signing the accord, Sufian commends the WB for its renewed commitment in supporting Ethiopia in the road sector development program.

Over 180 million USD of the stated sum will be utilized to finance the upgrading of three roads that include the 89-km Ankober-Awash Arba, 181-km Mekenajo-Dembidolo, and 121-km Wolkitie-Hossana roads, according to the release of the ministry.

The balance will be utilized to finance the provision of technical advisory services, capacity building efforts, network management Studies, and other related activities, it said.

- ENA