AfDB launches Development Effectiveness Review on Ethiopia
AA – The African Development Bank (AfDB) will launch its Development Effectiveness Review 2015 on Ethiopia on Wednesday, November 18 in Addis Ababa.
The Development Effectiveness Review 2015 for Ethiopia provides a comprehensive report on the Bank’s performance in the country and tracks how the Bank’s operations have contributed to the Ethiopia’s development results. Ethiopia is one of the fastest-growing economies in the world, averaging 10% growth over the past decade. Even with high population growth, the country’s per capita income has tripled over the last eight years. This strong economic performance has provided the Ethiopian Government with a platform for pursuing its ambitious national development agenda with the main goal of achieving middle-income country status by 2025.
The publication shows the structural transformation of the Ethiopian economy. “Ethiopia recognized the importance of structural transformation and the need to accelerate the transition to modern agricultural practices. Shifting more of the workforce into agro-processing and other light manufacturing is key to linking Ethiopia into global value chains and creating lasting prosperity,” said Janvier Litse, AfDB Acting Vice-President of Operations, in charge of Country and Regional Programs.
The African Development Bank has been a leading provider of development finance in Ethiopia over the past 40 years, with 118 projects at a total value of US $4 billion. A significant portion of the AfDB’s support goes into infrastructure, particularly electricity supply, water and sanitation and transport, including regional connections. The Bank also invested in the agriculture sector and in governance, as well as a number of multisector interventions. In the last eight years – the period under review – the Bank’s investments have made a substantial contribution to expand Ethiopia’s road infrastructure and improve access to transport to over 7.5 million people. The Bank has connected nearly 40,000 people to electricity, and improved water and sanitation services for 250,000. The Bank also provided budget support to Ethiopia and contributed to successful private-sector projects. To address the lack of access to finance, the AfDB has also provided financial services to nearly 2 million Ethiopians through microfinance programs.
The report launch will be hosted by the Bank’s Resident Representative to Ethiopia, Josephine Ngure, with a presentation by Victoria Chisala, Division Manager in the Bank’s Quality Assurance and Results Department. The launch will be officially opened by a representative from the country’s Ministry of Finance and Economic Cooperation.
Following the launch, the full publication will be available at: http://www.afdb.org/der/
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