The rest of the current financing loan to Ethiopia, USD 66.5 million, will be used to upgrade the Bedele-Metu road to all weather standard roads.
Lamin Barrow, Resident Representative of the AfDB’s Ethiopian field office noted that with the current support, AfDB would have financed 500km road infrastructure in Ethiopia. He explained that the support to enhancing the road infrastructure is expected to connect Ethiopia’s agriculture rich zones to markets within and outside the country, particularly to emerging markets in South Sudan. Mr. Barrow stressed the AfDB’s “unflinching commitment” to increasing inter-African trade, helping Ethiopia have access to multiple seaports and connecting to neighbouring countries.
State Minister Ahmed Shide of the Ministry of Finance and Economic Development (MoFED) thanked the AfDB for “its demonstrated commitment to support our development endeavor. As one of our major strategic development partner, the bank has been supporting the government’s development activities focusing on sectors which are having a positive impact on reducing widespread poverty.” The minister noted that Ethiopia’s third generation poverty reduction strategy, the Growth and Transformation Plan, has placed infrastructure development as one of the major strategic pillars.
The signing ceremony at the MoFED on 3rd February 2012 took place following at the heel of the African Heads of State summit in Addis Ababa that endorsed a new multi-billion dollar initiative, Programme for Infrastructure Development in Africa (PIDA) that is expected to run until 2040. The AfDB conducted the study on PIDA jointly with the African Union and the New Partnership for African Development (NEPAD), which provided recommendation for its implementation.
Speech by H.E. State Minister Ahmed Shide
Speech by Mr. Lamin Barrow, Resident Representative, AfDB
African Development Bank's Ethiopia Country Strategy Paper
Economic Brief- Ethiopia's Economic Growth Performance: Current Situation and Challenges
ETHIOPIA
Development Partners Group