Fana: At a Speed of Life!

Ministry of Finance, AfDB agree to scale up partnership, coordination

Addis Ababa, April 7, 2023 (FBC) – Semereta Sewasew, State Minister of Finance, met with Dr. Pascal C. SANGINGA, the Head of the Division for Agriculture and Agro-industries East Africa Regional Office at the African Development Bank, and Mr. Lahcen ENNAHLI, the Chairperson of OCP Group – an important global provider of phosphate and its derivatives.

They discussed how the Bank can support the development of wheat production through an upcoming project under the second compact program initiated by the African Development Bank, it is noted.

The State Minister has made a brief on the current opportunities and challenges of the wheat sector in Ethiopia, which is one of the main staple crops for food security and income generation for millions of smallholder farmers.

She highlighted the government’s efforts to increase wheat productivity and quality through improved seeds, fertilizers, irrigation, mechanization, extension services, and market linkages.

State Minister Semereta Sewasew thanked the African Development Bank and OCP for their contribution to the envisaged support, which is in line with Ethiopia’s priority on wheat production.

For his part, Mr. Ennahli updated the State Minister of AfDB’s ongoing and planned interventions in the agricultural sector, including a $92 million project to improve wheat productivity involving irrigation development in various regions.

During the discussion, both parties agreed to strengthen their partnership and coordination.

The project is expected to increase private sector engagement beyond wheat production and create massive jobs for the youth in project implementation areas, according to the Ministry of Finance.

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