Ethiopia, African Dev’t Bank Discuss on Ways to Further Enhance Bilateral Cooperation

May 28/2022/ENA/  The Ethiopian delegation led by State Minister of Finance Semereta Sewassew, held productive meetings with officials of the African Development Bank on the progress of the Bank’s new initiatives, the Bank’s portfolio performance and how to strengthen cooperation with the Bank.

The delegation held the discussion with African Development Bank’s East Africa Regional Director-General Nnenna Nwabufo and Deputy DDG Dr. Abdul Kamara, on the sidelines of AfDB annual meetings in Accra, Ghana.

Similarly the delegation held bilateral meetings with Governors of the AfDB from USA, France, Germany, Canada, Kuwait and Indian EXIM Bank on the critical development partnership and ways to further strengthen the economic and commercial cooperation.

The meeting also highlighted Ethiopia’s need for support toward recovery, Ministry of Finance said.  

The state minister briefed the counterparts on Ethiopia’s current economic affairs, including the positive growth, strong export performance, progress on the implementation of the economic reforms.

She also talked about debt management of Ethiopia even as the country faced conflict and continues to struggle with the impacts of COVID19 pandemic, the severe drought, the rising commodity prices, and other ongoing challenges.

A grant agreement amounting to 830,000 USD was also signed in the form of Grant between the Ministry of Finance and the Africa Development Bank at ceremony held Accra, Ghana.

The grant is made in support of Improving Climate Resilience of Communities and Ecosystems through Integrated Water Resources Management in the Ziway-Shalla Lakes Sub-Basin.

The Agreement was signed by Semereta Sewasew and Dr. Kevin Kariuki representing the Ministry of Finance and the Africa Development Bank respectively.