Ethiopia and The World Bank have signed on Saturday US$500 million grant agreement in the capital Addis Ababa, reported Ethiopian State Broadcaster.
The Minister for Finance, Ahmed Shide, and World Bank Country Director for Ethiopia Carolyn Turk.
The fund is to be spent on environmental protection and climate change prevention measures.
The program will run for five years and will particularly focus on rural lands.
Ethiopia is also getting another US $300 million from the multilateral institution for drinking water projects.
In 2018, The world Bank made $US 1.2 billion available to Ethiopia in the form of loan and grant.
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