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Ethiopia − Land of renaissance

Explore Ethiopia
Explore Ethiopia

A Country of Many Contrasts

Ahmaric News

World Bank announces $170mln credit to Ethiopia’s livestock, fisheries sectors

cawThe World Bank on last Tuesday approved an International Development Association (IDA) credit of 170 million US dollars to boost the contribution of the livestock and fisheries sectors to Ethiopia’s economy. Addis Ababa, December 15, 2017

The project will be principally implemented in 58 Woredas (districts) in Amhara, Benishangul-Gumuz, Gambella, Oromia, SNNPR, and Tigray regional states with crosscutting activities of the project having a national coverage.

Carolyn Turk, World Bank Country Director for Ethiopia, Sudan and South Sudan said the project will help 1.2 million farm households who largely depend on livestock-keeping and fishing, with the skills and tools they need to considerably increase the volume and quality of their produce.

Ethiopia has the largest livestock population in Africa and the fifth largest in the world.

Despite receiving limited public investments over the years, the livestock sector continues to be a major source of foreign exchange earnings and accounts for nearly 40 percent of the country’s agricultural GDP.

The government of Ethiopia has identified the livestock and fisheries sectors as essential aspects of its journey to reach the middle-income country status.

The sectors will also contribute to the country’s green growth priorities, according to a press release issued by the bank.