ADDIS ABABA Ethiopia (Xinhua) --
Ethiopia and the World Bank (WB) on Friday
signed a 2.7 billion Ethiopian birr (about 100 million U.S.
dollars) financing agreement aimed to help Ethiopia protect its
natural resources and promote livelihood sectors.
The loan agreement,
which is said to finance the Resilient Land and Livelihoods
Project in Ethiopia, was signed by Ethiopian Finance Minister
Ahmed Shide, and Carrie Turk, World Bank’s director for
Ethiopia, Sudan and South Sudan, in Ethiopia’s capital Addis
The Resilient Land
and Livelihoods (RLL) project, among other things, aims to
improve the east African country’s climate resilience, land
productivity and carbon storage.
In addition to
building climate resilience, the RLL project also aspires to
help rural communities diversify their livelihood activities,
according to the finance ministry.
Shide said more than
645,000 households in Ethiopia’s six major regional states are
expected to benefit from the RLL project, with financial backing
from the bank.
The World Bank is
also Ethiopia’s key financial partner in its aspirations to
improve electrification coverage across the country.
Ethiopia aims to
reach full coverage by 2025, from the current 58.13 percent,
according to the Ministry of Water, Irrigation and Energy (MWIE).
Bizuneh Tolcha, the
MWIE’s spokesperson, told Xinhua recently that the World Bank
had recently provided 375 million dollars in financial support
for Ethiopia’s eight-year electrification roadmap.
Ethiopia needs a
total of 1.5 billion dollars for the first five years of the
universal electrification program, according to Tolcha.