The Federal Democratic Republic of Ethiopia has secured financing for the first project under the Power
Sector Reform Investment and Modernization in Ethiopia (PRIME) multiphase program. The project contains multiple components including technical assistance and capacity building of the national energy regulator: the Petroleum and Energy Authority (PEA). PEA as beneficiary shall manage the activity while Ethiopian Electric Power (EEP) shall be the funding channel for activities under this component of the PRIME-1 project. The World Bank shall support the project financing through IDA credit towards the costs of the activity.