World Bank Reaffirms Commitment to Supporting Ethiopian Inclusive Economic Transformation

Addis Ababa October 24/2024 (ENA)The World Bank’s Vice President for Eastern and Southern Africa, Victoria Kwakwa and Vice President of the World Bank for IDA Akihiko Nishio reaffirmed the commitment of the bank to supporting Ethiopia’s efforts to lay the groundwork for an inclusive economic transformation that benefits all citizens of the country.

A high-level Ethiopian delegation, led by Finance Minister Ahmed Shide and including National Bank Governor Mamo Mihretu, Senior Macro Economic Advisor to the Prime Minister Teklewold Atnafu, and State Minister of Finance, Eyob Tekaligne and other delegates had fruitful discussions with World Bank officials during the 2024 Annual Meetings.

According to the Ministry of Finance, the delegation met with the World Bank’s Vice President for Eastern and Southern Africa, Victoria Kwakwa and the World Bank’s Vice President for IDA Akihiko Nishio.

 

The two sides exchanged on Ethiopia’s ongoing macroeconomic reforms as well as the status of ongoing projects in Ethiopia and priority areas for future cooperation.

Minister of Finance Ahmed Shide provided an update on the pro-poor reform progress and indicated the need for a sustained support from the World Bank to ensure the cost of the reforms is adequately managed.

Both VPs commended Ethiopia for the high level political leadership and successful launch of the package of policy actions to stabilize the economy, tame inflation and boost economic productivity through the broad-based reform program under Ethiopia’s second phase Home-Grown Economic Reform Agenda.

The VPs reaffirmed the WB’s commitment to support Ethiopia’s efforts to establish a foundation for an inclusive economic transformation aimed at benefiting all citizens of Ethiopia.