Ethiopia and World Bank sign loan agreement for Productive Safety Net Project funding

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The World Bank has extended a US$108 million loan for the implementation of the Fourth Phase of Productive Safety Net Project (PSNP). Agreement was signed on Wednesday last week (May 10) by Finance and Economic Cooperation State Minister Admasu Nebebe and World Bank Country Director Carolyn Turk. State Minister Admasu said the loan would enable scaling-up the PSNP to reach drought-affected households not currently receiving any support and strengthen the response of the PSNP to core beneficiaries suffering from the drought. He said the additional financing was another testimony to the Bank’s continued support to government programs that aim to improve the livelihoods of affected Ethiopian communities. World Bank Country Director, Ms. Turk, said PSNP has been central to the broader drought response in Ethiopia.

The PSNP was launched in 2005 with the objective of shifting people away from reliance on annual emergency food aid to a more predictable approach to responding to food insecurity.

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