Ethiopia shares its experience on Integrated National Financing Framework at FfD4

Addis Ababa, July 23/2024 (FBC) – The State Minister of Finance, Ms. Semereta Sewasew, shared Ethiopia’s experience on Integrated National Financing Framework on the sidelines of the First Preparatory Committee on the Fourth International Conference on Financing for Development (FfD4) which is taking place at Skylight Hotel.

She participated in the side event titled “Making Finance Work for People and Planet through Integrated National Financing Frameworks” organized by the INFF (Integrated National Financing Framework) Facility, UNDP and UNDESA.

The state minister, after officially opening the side event, shared the major aspects of Ethiopia’s Sustainable Financing Strategy (ESFS). The ESFS is developed to play a pivotal role in addressing the financial needs of SDGs and national priorities. The Strategy identifies major focus areas to diversify the financial sources of the country. The ESFS further aims at establishing strong and resilient funding mechanisms that will reinforce the country’s future growth and development.

Semereta, in her statement, highlighted priority areas of the ESFS that will be implemented to strengthen development financing which among others include accelerating digital tax modernization to boost revenue collection efficiency and combat tax evasion, shifting from traditional public-centered and debt-focused infrastructure investments to innovative and private sector financing instruments, integrating innovative financing mechanisms and instruments into sector investment plans, accelerating use of green finance instruments and ramping up the national public-private partnerships(PPPs).

She also underlined that the ESFS aims to address structural constraints by promoting resilience and aligning financing flows with long-term sustainability goals.

Finally, the state minister urged all stakeholders including government entities, private sector partners and international donors, and civil society organizations to join forces with renewed, vigor and shared purpose for the fourth international conference on financing for development.