Ethiopian Finance Minister Engages with AIIB and AFD Leadership for Enhanced Infrastructure Funding

MARRAKECH: Ethiopia’s Finance Minister, Ahmed Shide, has engaged in discussions with key international financial leaders as part of ongoing efforts to secure critical infrastructure funding for his country. During the IMF and World Bank annual meeting, Minister Shide met with Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB), and Rémy Rioux, Director-General of the French Development Agency (AFD), to advocate for favorable financing conditions and to bolster Ethiopia’s development initiatives.

According to Ethiopian News Agency, Minister Shide emphasized the need for improved financing terms for nations burdened by debt, with a particular focus on Ethiopia’s infrastructure demands. He commended AIIB’s robust capitalization and governance under President Liqun. In response, President Liqun expressed AIIB’s commitment to supporting Ethiopia, highlighting an ongoing energy project financed in collaboration with the European Investment Bank and the European Union. The discussions also addre
ssed potential financing for a new airport development by Ethiopian Airlines, with both parties agreeing to explore further options.

Minister Shide extended an invitation to President Liqun to visit Ethiopia in November 2024, aiming to deepen the partnership and cooperation between AIIB and Ethiopia. Additionally, in his meeting with Director-General Rioux, the minister discussed Ethiopia’s comprehensive reforms and acknowledged the support provided by AFD. Rioux reiterated AFD’s commitment to Ethiopia, including budgetary support for the upcoming year. Minister Shide expressed gratitude to the French government for its assistance across various sectors and underscored the significance of bilateral cooperation and support from international bodies like IDA and IMF in advancing Ethiopia’s development efforts.