Donors renew commitment to supporting economic reform, transformation of Ethiopia

Addis Ababa, January 19, 2024 (FBC) – During the Partnership Council (PC) Meeting for the Ethiopia Economic Reform Multi-Donor Trust Fund (MDTF), the Donors reaffirmed their commitment to supporting the economic reform and transformation of Ethiopia.

Minister of State for Finance, Ms. Semereta Sewasew, and Ousmane Dione, World Bank Country Director co-chaired the Partnership Council (PC) meeting, the Ministry of Finance indicated.

It is learned that the PC is the principal governing body of the MDTF which comprises the Ministry of Finance, the World Bank, and the 5 contributing donors, namely Global Affairs Canada, KFW (Germany), the French Agency for Development (France), Irish Aid (Ireland), and the Foreign Commonwealth & Development Office (United Kingdom).

During the meeting, the Donors reaffirmed their commitment to supporting the economic reform and transformation of Ethiopia as envisaged under the Home Grown Economic and Reform (HGER) Agenda.

The meeting highlighted the significant contribution made with the support of the MDTF in reforming several legal and regulatory frameworks, enhancing the capacity of public institutions, reforms sectoral, and strengthening Management and Oversight State Owned Enterprises. Some 28 activities have been allocated funding to date across various sectors including tourism, telecommunications, public investment management, logistics, and financial sector development, in the amount of USD$16.7 million.

The PC meeting endorsed 5 new activities in the amount of USD$3.6 million to support tax administration, financial sector stability and inclusion, and macroeconomic reforms. All activities under implementation have made good progress and are being implemented by various Government Agencies and Departments with technical assistance from the World Bank.

Semereta Sewasew said in closing the meeting that “I am pleased with the significant progress towards the achievement of the HGER and I am grateful to the Donors and the World Bank for their continued support and commitment to the Government and People of Ethiopia.”