The World Bank has approved $1.2 billion in grants and loans towards supporting reforms in Ethiopia’s financial sector as well as improving the investment climate.

In response to the reform pledges made by the government since Prime Minister Abiy Ahmed took office in April, the bank is providing new financial and technical support, it said in a statement.

The support will promote public-private partnerships “to improve efficiency in key sectors” including telecom, power, and trade logistics, the bank said.

Read more at Reuters

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