H.E. Ato Ahmed Shide, Finance Minister of Ethiopia, later today received the World Bank Group President, Mr. Ajay Banga who pays an official visit to Ethiopia, his first stop in Africa since he officially took office on June 2, 2023.

Their discussion focused on various issues of mutual interest, including Ethiopia's development priorities and the various areas to enhance the partnership between the World Bank and Ethiopia.

Minister Ahmed briefed Mr. Banga on the contributions of the World Bank-supported projects in tackling Ethiopia’s major development issues and stressed  the significance of effective development cooperation for sustained and inclusive growth. He also briefed him on the opportunities and challenges of implementing the Second Home-Grown Economic Reform (HGER 2.0) agenda to accelerate economic transformation through improved productivity and competitiveness. He requested support from the Bank for the ambitious reform agenda in light of the macroeconomic challenges and development needs of the country.

Mr. Banga commended Ethiopia's reform efforts and reiterated the World Bank's support for accelerated economic and social recovery efforts to  achieve inclusive growth. Minister Ahmed also shared some of his expectations from the Bank's reform process, including the importance of aligning it with the urgent needs of low-income countries, especially given unprecedented poverty challenges. Mr. Ahmed applauded the president for his immediate role in the Bank's own reform process which among others include the recently announced steps to enhance the Bank’s financial capacity.

Mr. Banga shared his observations from his visit to Bole Lemi Industrial Park and highlighted the importance of creating an enabling environment for the private sector to unleash its potential for job creation and growth.

Both sides agreed to strengthen their partnership and work closely  for the development of Ethiopia.