By Bruck Shewareged | The Reporter
In response to the current world economic crisis which is putting a big pressure on developing economies, the World Bank (WB) is set to increase its assistance to Ethiopia to USD 1 billion, World Bank Country Director for Ethiopia and Sudan Ken Ohashi said yesterday.
In a roundtable discussion he held with local journalist, yesterday, Mr. Ohashi said that the amount of money to be available to Ethiopia is 30 percent more that what the Bank was initially contemplating.
The money will be available starting from the beginning of July, which is the start of the next fiscal year for the World Bank.
Mr. Ohashi said that the Bank is seriously considering to increase the amount of financial resources available to African countries who are beginning to feel the pinch from the current global economic crises.
He said that it was unfortunate for African countries to suffer from the crisis which was not of their own making.
Ohashi said that it was up to each African country to take measures extricate itself from this problem.
The World Bank assistance alone cannot bring change, he noted.
“Unfortunately, the burden of adjustment falls on the African countries themselves,” he said.
He added that inflation in Ethiopia seemed to go down compared to twelve months before.
“Last July, the inflation was out of control as it stood at 64 percent. This time it is not at least out of control,” he said.
2 thoughts on “World Bank set to grant $1 billion to Ethiopia”
When does this bottomless support by world powers to the criminal weyane gangs end? They keep pumping money into the coffers of this tribal junta not to get the Ethiopian people out of the misery they are in, but to prolong the life of their puppet. It must be clear for every one who is in doubt the west don’t give a damn about the sufferings of the people, all they care about is their puppet government remains in power. More than any other time in the past the west showed it’s true color. Specially at this time, their puppet is in big trouble, it’s life span dwindling by the day, that’s why they have to come up with every excuse to give it a life support. But they are forgetting that the Ethiopian volcano is about to erupt and consume their spoiled child and it’s collaborators. No amount of money will save their puppet. They must know the end is approaching fast.
ለኢትዮጵያ ገንዘብ መስጠት ለመጠጥ ወዳጅ አራቄ መስጠት ነው