The finance ministry of Ethiopia announced on Thursday that the country will receive $400 million in grant and loan funds from the World Bank to support education and child nutrition initiatives.
According to a statement on its website, the finance ministry of Ethiopia clarified that out of the $400 million from the World Bank, $350 million is provided as a grant, while the remaining $50 million is in the form of a loan.
“The proceeds … will be used to improve the learning outcomes and nutrition services for girls and boys and strengthen service delivery and accountability, in all regions including areas affected by conflict, droughts, and high levels of refugees,” statement read.
Amidst foreign-currency shortages and enduring the aftermath of the COVID-19 pandemic, a two-year conflict in the northern Tigray region, and the challenges of droughts, floods, and locust invasions, Ethiopia continues to grapple with various crises.