Tools: Ethiopia Gets $350m World Bank Financing For Its Digital Id Project...

$50 million comes as a grant from the World Bank’s International Development Association.

ℹ️ Editor’s note: This story is part of Mariblock’s “State of Fiat” coverage. Digital assets such as bitcoin are seen as competitors to central bank money. Therefore, we consider informing our audience of the state of their local currencies worthwhile.

The World Bank has approved a $350 million finance package to support Ethiopia’s digital identity (ID) drive. The digital ID program — Fayda — introduced in 2022, has seen the enrollment of 3.5 million people in its pilot phase and is set for full rollout in 2024.

“This finance will help us to roll out the digital ID project that we have been working on for a long time at the country level.”

Source: HackerNews