The World Bank is set to pump $4 billion into Ethiopia in the coming four years in order to enhance competitiveness and employment generation through its country partnership strategy.

Launching the new strategy on Wednesday in Addis Ababa, the bank said the money will be used to build on the progress achieved by Ethiopia during the past five years.

The World Bank said the strategy, which will be implemented from 2013 to 2016, will help Ethiopia address ongoing challenges and assist in the implementation of its development effort.

The Country Partnership Strategy framework includes two main pillars with governance as foundation, says a document released on the launching ceremony.

This support includes “fostering competitiveness and employment” in the country while “enhancing resilience and reducing vulnerabilities” that aims to support Ethiopia in improving the delivery of social services and developing a comprehensive approach to social protection and risk management. Read More.