Minister Expresses Appreciation to the World Bank for Support Rendered to Ethiopia’s Economic Reform Programs

April 2, 2021

Today, Ethiopia and the World Bank Group conducted a virtual meeting which is part of the annual Spring Meetings where H.E Ahmed Shide, Minister of Finance briefed participants about the ongoing major economic reform measures undertaken by the Ethiopian government thus far.

The Minister said the Ethiopian Government has taken tangible steps to implement structural reforms to transform and strengthen private sector participation in the economy. He also explained about actions taken to increase investment inflow in the country. While thanking the Bank for its support of the reform program, he elaborated on the changes brought about by the new investment proclamation, and other regulations which are contributing to creating a conducive business environment in Ethiopia.

Furthermore, the Minister explained about the comprehensive State-Owned Enterprise reforms which are helping to ensure the SOEs improve their transparency, accountability, efficiency, and quality of service delivery.

The Minister acknowledged the World Bank’s contribution to combating the impacts of the COVID19 pandemic and requested more assistance to access more vaccines for Ethiopia.

The World Bank, represented by Hafez Ghanem, Vice President for Eastern and Southern Africa, and other sectoral directors expressed the Banks commitment to continue supporting Ethiopia’s economic reform programs and to support Ethiopia to access more COVID vaccines.

In conclusion, the Minister briefed about the preparation being taken for the recovery program to enable rapid reconstruction in Tigray.