Ethiopia gets $350 million World Bank financing for its digital ID project
Summary
The World Bank approves a $350 million financing package for Ethiopia’s Fayda digital ID program, including a $50 million grant. The program has enrolled 3.5 million people in its pilot and plans full rollout in 2024, with funds allocated across inclusive issuance, technical infrastructure, and program delivery. The move aims to boost financial inclusion and standardize digital identification for transactions, amid Ethiopia’s broader debt and IMF relief context.