AfDB President Pledges to Increase Support for Dev’t Projects in Ethiopia


June 4/2021 ( ENA)African Development Bank (AfDB) President Akinwumi A. Adesina has pledged to increase support for development projects in Ethiopia.

Speaking at a fund raising event for Oromia Development Association (ODA) today, the president said “the African Development Bank has invested 1.7 billion USD in Ethiopia, and we are proud of it.”

According to him, AfDB’s financial assistance and investment will be consolidated in various areas, including agriculture, energy, transport, and sanitation, among others.

Ethiopia has also been hugely investing on energy, water, sanitation and transport, and the African Development Bank will remain supportive for the endeavors of the country, he added.

Appreciating the ongoing efforts of the government in agriculture, Adesina said “I want to thank Prime Minister Abiy Ahmed and praise the agricultural transformation in terms of  integrated industrial park.”

The president further noted that the bank has been contributing its share, specially for Addis Ababa-Nairobi-Mombasa road corridor project, with the view to promoting trade and regional integration.

“We are investor here to help build the 1,000 kilometers road that links the capital city Addis Ababa all the way to Nairobi and all the way to Mombasa. That will increase trade by 500 percent.”

The Bank has also been investing a lot in transmission lines that take energy out of here to other parts of the region.