The bank approved a $178.5 million loan from its International Development Association unit and a $24.5 million grant from the Scaling-up Renewable Energy Program Trust Fund, it said in a statement on its website. The trust fund is one of the Climate Investment Funds that provide money to developing countries to help them tackle climate change.
Ethiopia will use the money to develop its geothermal energy resource to boost electricity supply. Domestic power demand is expected to grow by more than 25 percent a year, according to the statement.
