Ethiopia, World Bank Sign 470m USD Financing Agreements

wLDThe government of Ethiopia and the World Bank today signed two financing agreements amounting to 470 million USD to improve quality of education, and productivity in livestock and fisheries. Addis Ababa December 21/2017

A grant amounting to 300 million USD to support the General Education Quality Improvement Project for Equity (GEQIP-E) is the first agreement that the two sides have signed.

Finance and Economic Cooperation Minister, Dr. Abraham Tekeste said during the occasion that project aims to support government’s efforts towards improving access and quality education.

The Project will support efforts to improve internal efficiency, equitable access and advancing the system for planning, policy formulation and reform, he added.

It will help to build upon achievements made by its predecessors – GEQIP I and II – and transform the education system by focusing on results and improving teaching practices, among others.

The second financial assistant – a 170 million USD loan – signed between the two sides is to improve productivity in the livestock and fisheries sectors and boost their contribution to the country’s economy.

The Livestock and Fisheries Development Project is aimed to unleash the country’s potential in the sectors. Ethiopia has the largest livestock population in Africa and the fifth largest in the world.

The livestock sector continues to be a major source of foreign exchange earnings and accounts for nearly 20 percent of the total GDP.

The Minister said that the project targets to increase productivity commercialization of producers and processors in selected value chains, strengthening service delivery systems, and respond effectively to emergencies.

Appreciating the World Bank’s continued support to critical sector such as education and livestock, Dr. Abraham said, “We hope that the Bank will continue to maintain this intent and sprit in the future to further enhance our cooperation.”

World  Bank  Country Director for Ethiopia Sudan and South Sudan Carolyn Turk   on her part said that the Bank has supported public primary and secondary education in Ethiopia through GQEIP almost for a decade.

Turk added that GQEIP I and II have helped the country to improve the learning environment of schools by providing critical inputs.

“The progress Ethiopia has made in education sector is commendable.  Unlike other countries; Ethiopia has been able to avoid the deterioration in quality education that often accompanies a rapid expansion of access,” Turk said.

However, she emphasized that more work needs to be done to further scale up the modest improvement in learning outcomes at the primary and secondary level.

In recognition of these positive achievements, and the government’s strong dedication to address challenges in the sector, though GEQIP-E, Turk said “the World Bank is reaffirming its continued support”.