Ethiopia, World Bank Sign USD 205 Million Loan Agreement
Addis Ababa April 10/2014 Ethiopia and the World Bank signed today a 205-million USD loan agreement that would be used to finance the water supply, sanitation and hygiene Project (WASH 2 Project).
State Minister of Finance and Economic Development Ato Ahmed Shide and Representative of the World Bank Country Director for Ethiopia Mr. Perminder Brar signed the agreement.
According to Ato Ahmed Shide, the project would increase the access of residents of the selected woredas, towns and communities to improved water supply and sanitation services across the country.
The project will also have a great importance in improving the health and productivity of the beneficiaries by reducing the effects of water-borne and sanitation-related problems, he added.
Mr. Brar on his part said the agreement was the third water project agreement between the World Bank and Ethiopia. He further indicated that the loan will help Ethiopia meet the target set to provide potable water and toilet by 2015.
The project is expected to finance the construction of about 6,300 rural water schemes and rehabilitation and expansion of water supply systems for about 70 towns, according to a news release of the World Bank, which added that around 2 million people would be connected to the formal water supply system in rural and urban areas of Ethiopia.