The World Bank’s Board of Executive Directors approved a total of $550 million for Ethiopa in bid to improve the livelihoods of pastoralists and the nation's ongoing power sector reforms.
$350 million ($70m grant $280m credit) was secured from the International Development Association (IDA) will be used to improve the livelihoods and resilience of 2.5 million pastoralists and agro-pastoralists in low land areas, the bank said in a statement on Wednesday, according to APA news.
The Low lands Livelihood Resilience Project approved by the bank will help to improve the livelihoods and resilience of pastoral and agro-pastoral communities in Ethiopia by addressing their binding constraints, the statement said.
“The project will put communities in charge of their own development priorities by enabling them to identify, lead and manage local development initiatives,” said Carolyn Turk, World Bank Country Director for Ethiopia, Sudan and South Sudan.
The project will reduce long-term environmental degradation and communities’ vulnerability to climate change related droughts. It will also facilitate access to crucial social services such water resources to communities, upgrade veterinary facilities and help construct key infrastructure such as bridges roads, livestock markets, small scale irrigation schemes.
The project will support the introduction of technologies that improve animal productivity (i.e. milk and meat production). Furthermore, it will improve market linkages and commercialization by facilitating the development of partnerships between private companies and groups of producers.
Mean while, the $200m Renewable Energy Guarantees Program (REGREP) approved by the bank will support Ethiopia’s ongoing power sector reforms and leverage private sector financing for renewable energy generation.
The program will support the Government of Ethiopia’s ongoing power sector reforms and leverage private sector financing for renewable energy generation.