Ethiopia's Finance Minister Ahmed Shide announced significant technical and financial support from the World Bank during meetings in Washington DC. This aid aims to strengthen the country's economy and create job opportunities. The bank is backing various reform projects.
In Addis Ababa on Hidar 13, 2018, Finance Minister Ato Ahmed Shide met with Anna Bjerde, World Bank Managing Director for Operations, during the Annual Meetings of the International Monetary Fund and World Bank Group in Washington DC. They discussed pre-development projects, ongoing reforms, and new financing methods to enhance collaboration.
Ato Ahmed stated, “The World Bank has played a significant role in enhancing Ethiopia's major development agenda, providing substantial technical and financial support.” The bank supports Ethiopia's economy by mobilizing resources, boosting productivity, creating new growth paths, expanding the private sector to generate jobs, and improving living standards across the country. It has committed over 15 billion dollars in long-term support across key sectors.
Anna Bjerde responded positively to Ethiopia's reform agenda, noting significant progress. She highlighted the substantial reduction in inflation, increased high export earnings, improved domestic revenue mobilization, strengthened fiscal management, and evolving favorable trade conditions. She encouraged the government to continue bold measures in implementing key reform steps.