Dev’t Partners Urged to Commit Strong Support to Rebuild Conflict-affected Areas in Ethiopia

Finance Minister Ahmed Shide has called on development partners to increase strong financial support in addition to the government’s efforts to rebuild conflict-affected areas in Ethiopia.

Ahmed presented the nine month performance report of the Ministry of Finance to the Planning, Budget and Finance Affairs Standing Committee of the House of Peoples' Representative today.

On the occasion, he called on the development partners to increase their financial support to rebuilding conflict-affected areas in Ethiopia.

The financial support of some development partners was lower compared to the plan, he indicated.

The ministry planned to get 2.9 billion USD in aid and loan from development partners in the past 9 months of Ethiopia Fiscal year and obtained 1.4 billion aids and 404.4 million USD in loans, which is 62.2 percent of the plan, it was learned.

Strengthening effective implementation of the peace agreement and realization of the prepared Homegrown Economic Reform agenda 2 will help improve the resources mobilization to rebuild and accelerate development in the country, he said.

The minister observed that there is improvement in terms of economic diplomacy during the implementation of the peace agreement.

Under the Rehabilitation and Construction Program, the minister reminded that the ministry conducted Ethiopia Damage and Needs Assessment Report and submitted it to the government.

According to the report, the damage is estimated at 22 billion USD, which is 20.4 percent of the GDP, and the economic loss is estimated at 6 billion USD or 5.5 percent of GDP.

In order to reverse the damage, a five-year plan under the title: Ethiopia Resilient Recovery and Reconstruction Planning Framework, has been prepared to be implemented from 2023-2028.

It is indicated that 20 billion USD is needed for the implementation of the projects.

Source: Ethiopian News Agency