Ethiopia's Finance Minister Ahmed Shide called for intensified financial support for future road corridor construction at the 28th African Development Bank Ministerial Meeting, held alongside the World Bank and IMF Spring Meetings. Ethiopia participated in the gathering.
Ethiopian Finance Minister Ahmed Shide highlighted achievements from a midterm review of four road corridors at the gathering. Officials reported mobilizing 3.8 billion dollars toward construction spanning more than 9,100 kilometers. Since 2019, development partners have provided 2.7 billion dollars for these projects.
"Financial support for future road corridor construction needs to intensify," Shide stated. He noted Ethiopia's status as a landlocked nation with over 130 million people, heavily reliant on transport corridors for trade. Investments in these economic corridors are vital for facilitating trade, enhancing competitiveness, and creating jobs.
The ministers addressed remaining financing gaps for completing the projects. The meeting emphasized integrating financing solutions, filling gaps, and leveraging full economic capacity to accelerate corridor initiatives, issuing a call to action.
