AfDB Vice President Commends Ethiopia’s Successful Macroeconomic Reform Efforts

Addis Ababa: Vice President of the Private Sector, Infrastructure, and Industrialization Complex of the African Development Bank (AfDB), Solomon Quaynor, commended Ethiopia’s successful macroeconomic reform efforts. Ethiopia’s Finance Minister, Ahmed Shide, met with Solomon Quaynor and his delegation to discuss ways of enhancing AfDB’s development cooperation in Ethiopia.

According to Ethiopian News Agency, the Minister acknowledged the AfDB’s critical role in supporting Ethiopia’s economic and social development aspirations, with the current portfolio exceeding 1.2 billion USD in investments across various sectors. Ahmed highlighted Ethiopia’s ambitious reforms under the Homegrown Economic Reform Agenda, emphasizing the foundation for a more sustainable and inclusive economy.

He further elaborated on the focus of accelerating growth and development through investments in key sectors such as infrastructure, energy, digital connectivity, and sustainability. The AfDB Vice President praised Ethiopia’s macroeco
nomic reform efforts and expressed AfDB’s commitment to scale up support for private sector engagement, considering the favorable investment climate fostered by the reform efforts and policies.

The meeting concluded with both parties agreeing to expand and collaborate on transformational private sector projects in strategic areas.