Ethiopia and World Bank Announce USD 250 Million Partnership to Foster Urban Livelihoods and Youth Employment
January 6, 2018
The Federal Democratic Republic of Ethiopia’s Ministry of Finance and the World Bank have formalized an additional financing agreement totaling USD 250 million to advance the Urban Productive Safety Net and Jobs Project.
This substantial funding underscores Ethiopia’s unwavering dedication to enhancing the economic resilience of vulnerable urban populations, with a specific focus on expanding employment opportunities for youth and women. The initiative emphasizes labor-intensive public works and livelihood grants targeted at disadvantaged households, ensuring sustainable income sources within urban communities.
Aligned with Ethiopia’s national strategy for job creation, the project aims to stimulate youth employment and extend vital support to refugees and host communities in selected regions. In addition to fostering employment, the initiative seeks to strengthen social protection systems through cash transfer programs and comprehensive services designed to facilitate social and economic reintegration.
The agreement was virtually signed by Her Excellency W/ro Semereta Sewasew, State Minister of Finance, alongside Ms. Maryam Salim, World Bank Division Director for Ethiopia, Eritrea, Sudan, and South Sudan. This milestone signifies a pivotal step toward inclusive urban development and shared prosperity.
