By UNIADDIS ABABA: (ETHIOPIA): The World Bank has approved $1.2 billion fund to support economic growth policies in Ethiopia. The Ethiopian government also actively engaged in regional diplomacy, and announced a range of economic reforms designed to revitalize the economy by expanding the role of the private sector, Turkish news agency anadolu reported quoting World Bank. Among the reforms were the plans to gradually boost the economy, introduce competition and liberalize sectors dominated by key state-owned enterprises. On Wednesday, Haji Ibsa, the Finance Ministry spokesman said that "Ethiopia's relations with the World Bank has improved over the past six months" since Abiy Ahmed took the office of prime ministr on April 2. IDA is one of the largest sources of assistance for the world's 75 poorest countries, 39 of which are in Africa.

Source: Ethiopian News October 31, 2018 13:30 UTC