World Bank Approves $300 million Loan to Addis Ababa Road Safety Activities
Ethiopia is one of the worst countries in Africa for road fatalities, not because it has so many vehicles (the ratio of vehicles to people is much higher than Africa’s average) but partly because there are few traffic lights or sidewalks, making conditions deadly for drivers and pedestrians.
The World Bank on Friday approved a $300 million International Development Association (IDA) loan to add traffic lights and sidewalks on selected streets in Addis Ababa and secure a database for driver and vehicle licensing compliance throughout Ethiopia.
World Bank is an international financial institution that provides loans to developing countries for capital programs. International Development Association loans are given interest free or at low interest rates to help the world’s poorest countries, the Washington, D.C.-based World Bank said in a press release. The money is meant to boost economic growth, reduce poverty, and improve poor people’s lives. Read More from Afkinsider