World Bank launches $4 billion worth plan for Ethiopia

  • PDF

Addis Ababa, December 22, 2012 (WIC) - The World Bank is set to pump $4 billion into Ethiopia in the coming four years in order to enhance competitiveness and employment generation through its Country Partnership Strategy (CPS).

Launching the new strategy on Wednesday in Addis Ababa, the Bank said the money will be used to build on the progress achieved by Ethiopia during the past five years.

The World Bank said the strategy, which will be implemented from 2013 to 2016, will help Ethiopia address ongoing challenges and assist in the implementation of its development effort.

The Country Partnership Strategy framework includes two main pillars with governance as foundation, says a document released on the launching ceremony.

This support includes "fostering competitiveness and employment" in the country while "enhancing resilience and reducing vulnerabilities" that aims to support Ethiopia in improving the delivery of social services and developing a comprehensive approach to social protection and risk management.

Ethiopia's Minister of Finance and Economics Sufian Ahmed welcomed the new strategy and World Bank’s effort to support Ethiopia.

During the past decade, he said "the World Bank has been at the forefront in support of Ethiopia's revival and transformation derives".

He said the strategy would be used in order to maintain the 11 percent economic growth rate that the country is currently registering, along with achieving Millennium Development Goals set in its five year plan.

Since 2011, Ethiopia adopted the five year Growth and Transformation Plan, with the aim of achieving an annual average economic growth of between 11 to 15 percent.

World Bank's Country Director, Guang Chen said the four year plan "is a result-based strategy anchored in the Ethiopia's Growth and Transformation Plan", which envisions for Ethiopia to "extricate itself from poverty to reach the level of a middle-income economy between 2020 and 2023".

"Coinciding with the World Development Report 2013 on jobs, the strategy puts particular emphasis on supporting Ethiopia's agenda in enhancing competitiveness and employment generation as one of the key pillars of the CPS," Chen added.
Ethiopia’s Livestock feed needs transformation

A Research Workshop at Ethiopian Institute of Agricultural Research suggests Ethiopia has to significantly develop its fodder production and productivity to best exploit its livestock potential.

According to documents, the country has the largest livestock resources and potential but dismal performance in the sector in Africa. Figures indicate Kenya is doing a lot better than Ethiopia given its small size of livestock.

The workshop that happened Friday 12 December, 2012 in the premises of the Institute heard research findings that focuses on challenges, performances and opportunities on livestock feed, state of the livestock feed development and policy issues plus institutional capacity building.

Besides it sees mechanisms through which private companies can put in crucial role in the industry.

It calls on government to push for transformation as it does robust development over the years in crop production across the country.

It believes such moves enable the country make gains of hard foreign currency and considerable increase in livestock feed production.

According to ERTA, the workshop underlines need for cooperation to among stakeholders to maximize recent developments and overcome virtual challenges in the sector.

Subscribe to get latest news

Visitors Counter

mod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_counter
mod_vvisit_counterToday18717
mod_vvisit_counterYesterday57414
mod_vvisit_counterThis week135613
mod_vvisit_counterLast week281452
mod_vvisit_counterThis month1011175
mod_vvisit_counterLast month1271595
mod_vvisit_counterAll days( since may 28, 2013)13417265

We have: 540 guests, 36 bots online
No: 54.196.195.158
 , 
Today: Jul 29, 2014