ADDIS ABABA – The Ministry of Finance and the African Development Bank (AfDB) signed two Financing Agreements worth a combined total of 44.4 million US Dollars both in the form of grants.
The first Agreement amounting to 40 million US dollars will finance the implementation of the Program to Build Resilience for Food and Nutrition Security in the Horn of Africa.
It is designed as a subsequent phase of the Drought Resilience and Sustainable Livelihoods Program
The finance “will be used to contribute to improve living conditions including for women and the youth, food and nutrition security, increasing resilience, as well as peace and security in drought prone lowland areas of the country,” said the Ministry.
The second 4.4 million US Dollars Grant Agreement will be used for the implementation of the Institutional Support Project to Strengthen Macroeconomic Management (ISP-SMM) respectively which is 44.4 million USD in total.
The ISP-SMM will be used to strengthen the capacity of key macro institutions in research and policy analysis underpinned by a well-managed public investment program.
The Agreement was signed between Semereta Sewasew, State Minister of Finance and Dr. Abdul B. Kamara, Deputy Director General, East Africa Regional Development and Business Delivery, African Development Bank.
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