IFC reaffirms commitment to promoting FDI in Ethiopia

Addis Ababa, September 4, 2024 (FBC) – Eyob Tekalegn, State Minister of Finance, met with Mr. Sarvesh Suri, IFC (International Finance Cooperation) Regional Industry Director for Africa, to discuss ongoing collaboration and the IFC’s significant contributions to Ethiopia’s development by engaging in various sector including, telecommunications, brewery, health, and trade finance, with technical support in areas like financial sector development, PPPs (Public-Private Partnerships), investment climate reform, and more.

During the meeting, State Minister Eyob expressed gratitude for the IFC’s $340 million investment portfolio and technical assistance in various sectors. He also briefed the Director regarding the recent macroeconomic reforms in Ethiopia, renewable energy projects, and future partnerships in manufacturing, Small & Medium-sized Enterprises and housing development.

Congratulating the government on successful deal for 300MW Aysha-1 wind project with the UAE’s AMEA Power, Mr. Sarvesh Suri reaffirmed IFC’s commitment to continue supporting in fostering private sector-led growth and promoting foreign direct investment in Ethiopia.