Ethiopia seeks private sector investment to drive climate-resilient urban dev’t: MoUI

Addis Ababa, December 4, 2023 (FBC) – Ethiopia’s Minister of Urban and Infrastructure, Ms. Chaltu Sani has urged the private sector to invest in climate-resilient urban development, emphasizing the country’s commitment to tackling climate change while reaping the rewards of a sustainable and expanding economy.

Ms. Chaltu Sani acknowledged the threats posed by climate change, particularly in urban areas, saying; “Climate, Development and Investment Nexus: Aligning Climate Action with Development and Private Sector Investment in Ethiopia.” She emphasized the need for smart technologies, data-driven decision-making, and sustainable urban planning to construct resilient cities that can adapt to population growth and climate shocks.

“Our vision is of a country that embraces renewable energy, adopts smart technologies, optimizes energy use, protects natural biomes, and minimizes carbon emissions from our development trajectory,” the Minister stated.

According to the Minister, Ethiopia’s urbanization rate is currently at 4.4% per annum, necessitating the construction of climate-resilient cities that can adapt to population growth and climate shocks. Smart technologies, data-driven decision-making, and sustainable urban planning are essential tools in this endeavor.

She indicated that the Ethiopian government has recognized the need for capacity-building and knowledge-sharing efforts to empower businesses to embrace climate-focused investments and seize the opportunities they present.

The panel, held at Ethiopian Green Legacy Pavilion, highlighted the importance of private sector investment, investment attraction, and smart urban investment in driving the transformational change needed to address climate change and promote sustainable development in Ethiopia.

State Minister of Planning and Development, Nemera Gebeyehu, stated that the government has given substantial attention to the private sector and doing business in Ethiopia in recent years. Job creation is a major priority for the government, which is also implementing various macroeconomic and structural reforms to accelerate the country’s economy through private sector participation.

For her part, Deputy CEO of Ethiopian Investment Holdings Meleket Sahilu, Ms. Meleket Sahilu emphasized the government’s focus on and support for public-private partnership initiatives.