Abidjan, December 16, 2021 – Ethiopian President Sahle-Work Zewde met African development bank President Dr. Akinwumi A. Adesina during a working visit to Côte d’Ivoire.

Meeting Thursday at the Bank’s headquarters in Abidjan, they discussed Ethiopia’s current and post-Covid-19 development priorities.

Describing the African Development Bank as Ethiopia’s development partner of choice, President Zewde commended the Bank for its long-standing support and role in Ethiopia’s development.

“In many areas – agriculture, transport, energy, water sector, multisectoral – the support we have received for years from the African Development Bank, up to over $ 1 billion, has been very vital. for Ethiopia, ”she said. .

She said the Ethiopians had gone through a difficult time over the past two years, but that there were positive signs for the future despite the turmoil in the country.

“Industrial parks have especially given rise to hope for many young Ethiopians, but especially for women,” she said.

Praising the role of women in development, President Zewde said she was personally interested in the Bank’s Youth Employment / Women’s Empowerment Project, describing it as a project that is as close to her heart as it is to her. ‘to that of Dr Adesina.

Welcoming the partnership between the Bank and the Government of Ethiopia, Dr Adesina cited several Bank-funded initiatives that he said were helping to High 5 priorities to be achieved in Ethiopia.

“We are proud to have supported the Addis Ababa-Nairobi highway, which connects Ethiopia and Kenya. This is a billion dollar investment that we are funding, which allows Ethiopia and Kenya to increase bilateral trade by 400%.

He identified other projects in preparation, including $ 402 million for investment in various operations, including the Addis Ababa Kebena River Urban Development Project and an institutional project involving the private sector.

Dr Adesina reaffirmed his support for Ethiopia’s efforts to address political instability within and throughout the Horn of Africa region.

“We will do everything possible to rally support around Ethiopia,” he assured President Zewde. “We are all with you and pray that this will be resolved soon.”

According to President Zewde, after the country’s devastating war, recovery and reconstruction will be key priorities for the Ethiopian government.

She thanked Dr Adesina for his reassurance that the African Development Bank would support the country in its continued quest for development as things returned to normal.

In 2021, the Board of Directors of the African Development Bank Group approved funding for a $ 27 million grant to boost nutrition in children 5 and under, providing better access to health services and improved hygiene knowledge and practices.

Another Bank strategic support to Ethiopia includes a $ 47 million grant to support young entrepreneurs in the agricultural sector near agro-industrial parks.

In July 2020, the African Development Bank Group provided a grant of $ 165 million from the African Development Fund to support Ethiopia’s response to Covid-19.

In 2021, the country recorded an economic growth rate of 6.3%, up from 8.3% before Covid-19 in 2019. The Bank is working with the Ethiopian government to strengthen the operational capacity of the Addis Ababa headquarters in the African Union.

Ethiopia spends an average of 58% of its national budget on activities that directly reduce poverty and increase life expectancy.

The African Development Bank’s portfolio in Ethiopia includes 20 projects worth around $ 1.6 billion in several sectors, including transport, energy, water and sanitation.

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