International Development Association (IDA) announced that it is working to raise 80 billion dollar by the year 2019 to support countries in the developing world.
The associated held its 19th conference in Addis Ababa today.
According to Ethiopian Ministry of Finance, Ahmed Shidie, the economic reforms that Ethiopian is currently undertaking helped Ethiopia to host the conference.
The IDA, which part of the word bank raise money from donor countries, and reimburse to developing countries. For the last three consecutive years, the IDA donates 19 billion birr of which half is given to developing countries.
Opening session, president Sahilework Zewude, Ethiopia is contemplating benefit from support of IDA.
World Bank CEO, Chiristine Lagarde also emphasis will be given to projects in the horn of Africa region.
She added that Ethiopia will have a big share from 2019 support fund.