NBE, PBOC Strengthen Strategic Financial Partnership

Addis Ababa, April 2, 2026 (ENA) —The Governor of the National Bank of Ethiopia, Eyob Tekalign, met with the Governor of the People’s Bank of China, Pan Gongsheng, to advance a monetary cooperation aimed at deepening trade and investment ties.

During the meeting, the NBE provided a comprehensive update on Ethiopia’s debt restructuring progress under the G20 Common Framework, highlighting the nation's resilient GDP growth and successful efforts to manage inflation while rebuilding foreign exchange reserves.

Both parties expressed strong interest in establishing bilateral swap lines and trade financing facilities to facilitate smoother commercial flows.

Eyob Tekalign highlighted the NBE’s strong potential of increasing RMB reserves, leveraging the significant revenue from Ethiopian Airlines and others, and through transitioning of key export sectors towards RMB settlement.

This shift will also support the operating environment for Chinese enterprises in Ethiopia and promote new flows of Foreign Direct Investment.

The Governors further discussed the possibilities of modernizing cross-border transactions, through the integration of national payment infrastructures.

Pan Gongsheng highlighted the potential avenues for Ethiopian financial institutions joining the Cross-Border Interbank Payment System (CIPS) and expanding the use of China UnionPay to streamline retail and commercial payments.

Additionally, both sides explored the development of Central Bank Digital Currencies (CBDCs), with the PBOC supporting through capacity-building and experience-sharing initiatives to fast-track Ethiopia’s digital finance evolution.

Pan Gongsheng concluded the meeting by commending Ethiopia’s recent macroeconomic reforms and its proactive stance on debt sustainability. Both leaders reaffirmed their commitment to a long-term, mutually beneficial partnership that aligns with the evolving dynamics of global trade and digital finance.