WB reaffirms support for implementation of macroeconomic reforms in Ethiopia

Addis Ababa, December 8, 2023 (FBC) – The Minister of Finance, Mr. Ahmed Shide, met and held a discussion with Anna Bjerde, the Managing Director Operations (MDO) of the World Bank, and Victoria Kwakwa, World Bank Vice President for Eastern and Southern Africa.

The discussion, according to the Ministry of Finance, focused on implementation of macroeconomic reform and development activities in Ethiopia.

The Minister of Finance, Mr. Ahmed Shede, mentioned during the discussion that the World Bank is Ethiopia’s biggest and most sustainable development partner.

Taking into account Ethiopia’s vast population and natural resources, investments by development partners in the country are considered as investments made for the East African region, the Minister reckoned.

The Minister pointed out that Ethiopia’s development partnership with the World Bank is effective and that the projects funded by the World Bank in his country are progressing well.

He underscored that more financial support is expected from the World Bank in order to stabilize the macro economy in the country, to ensure the effectiveness of economic reforms, to encourage the private sector, to implement rehabilitation activities, to strengthen infrastructure networks, to boost economic ties with neighboring countries and to speed up other social and economic developments.

On her part, Anna Bjerde, the Managing Director Operations (MDO) of the World Bank, recalled fruitful discussions with the Ethiopian authorities on various occasions together with the International Monetary Fund (IMF).

She reiterated that the World Bank will support Ethiopia’s economic reforms as well as efforts in boosting the private sector, expanding infrastructure, strengthening rehabilitation works and improving the lives of citizens.

“Important for me to be in Ethiopia to reaffirm the World Bank’s support for implementation of macroeconomic reforms for growth and jobs. I look forward to meeting the women and men supported by our projects,” Anna Bjerde said in a social media post after her meeting with the Ethiopian officials.

The Governor of the National Bank, Mamo Mihretu, the Minister of State for Policy Affairs of the Ministry of Finance, Eyob Tekalgn, the Minister of State for Economic Cooperation of the Ministry of Finance, Ms. Semereta Sewasew, and other officials of the Ministry of Finance and the World Bank were present at the meeting, it is indicated.