Ministry lauds IFC’s Support to Private Sector Dev’t in Ethiopia

Finance Minister Ahmed Shide has lauded International Finance Corporation (IFC) for its support of enhancing private sector development in Ethiopia.

According to Ministry of Finance, the minister commended IFC while he was receiving the IFC’s Regional Director for Eastern Africa, Jumoke Jagun–Dokunmu at his office.

The corporation is conducting technical and economic feasibility studies for projects that have laid the foundation for the private sector in Ethiopia, Ahmed added.

The minister urged the IFC to further support the efforts of Ethiopian Government in privatizing other sectors as it has done so the  privatization of the telecommunication sector.

IFC’s Regional Director for Eastern Africa, Jumoke Jagun–Dokunmu, on her part, said the institution has strong partnership with Ethiopia and it has been supporting private sector investment in Ethiopia.

The regional-director reaffirmed the commitment of IFC to continue supporting priority sectors such as energy supply, health, housing development and finance in the country.

Besides to supporting private sector development in Ethiopia to scale up the economy, IFC will also support efforts of Ethiopian government in the process of opening up the banking sector to foreign financial institutions, the director pointed out.

Source: Ethiopia News Agency