ADDIS ABABA, Jan. 14 (Xinhua) -- The Ethiopian government and the World Bank have signed a 250-million-U.S.-dollar financing agreement to support Ethiopia's urban development efforts.
The financing accord will fund the implementation of the East African country's urban productive safety net and jobs project, the Ethiopian Ministry of Finance said in a statement on Wednesday.
According to the statement, the funds will enable the Ethiopian government to intensify efforts to improve incomes for the urban poor and enhance labor market inclusion for the youth and women.
Ethiopia's urban productive safety net and jobs project, among other things, aims to strengthen social assistance systems through cash transfers and services, said the ministry.
It added that the project's key activities include providing labor-intensive public work opportunities and livelihood grants targeting vulnerable urban households, fostering youth employment, and extending support to cover refugees and host communities in selected localities.
The financing agreement was signed virtually by Ethiopia's State Minister of Finance Semereta Sewasew and the World Bank's Country Director for Ethiopia Maryam Salim. ■
