Friday, January 27, 2023
HomeBusinessEthiopia: African Development Bank’s New 2023-2027 strategy to help spur economic transformation

Ethiopia: African Development Bank’s New 2023-2027 strategy to help spur economic transformation

On 17 November 2022, the African Development Bank Group Board of Directors approved the  2023-2027 Country Strategy Paper for Ethiopia. The key objective of the Strategy is to support Ethiopia in expanding inclusive and sustainable growth through agro-industrialization, improved connectivity and competitiveness and reduced vulnerability to shocks.

The blueprint focuses on two priority areas: i. improving economic and financial governance for greater resilience, enhanced service delivery and private sector growth, and ii. developing quality and sustainable infrastructure to support Ethiopia’s agro-industrialization.

Under the first priority area, the Bank will support Ethiopia to strengthen institutional and human capacity in macroeconomic and financial governance, including monetary policies and debt management. A key focus is to improve the government’s capacity to deliver quality and equitable essential social services, promote transparency and accountability, and strengthen the resilience of institutions and services.

Specific results envisaged include increased access to essential services, improved economic opportunities for women and youth and an expanded role for the private sector in the economy. In particular, the share of the population with access to essential health services within a two-hour travel time is expected to increase from 60% in 2022 to 65% in 2027; the share of the population with access to safe drinking water is projected to rise to 63.5% from 58.5%;and that of the population with access to basic sanitation services to increase from 20% to 25%. Private investment as a share of gross domestic product is expected to increase from 24% to 28%, and the rate of youth access to credit facilities to increase from 25% to 30% (30% of them women).

Regarding the second priority area, the African Development Bank is planning to support the development of quality, sustainable and climate-friendly infrastructure. This will help expand agro-industrialization and value chains, improve connectivity and inclusion, diversify production and facilitate structural transformation. The development of high-quality infrastructure will reduce the cost of doing business, facilitate the movement of goods and people and increase productivity.

The Bank’s support will also help improve access to energy systems to meet domestic demand and strengthen regional connectivity. Investments will focus on constructing transmission and distribution lines as well as mini-grids. They will also support energy reforms and enhance human and institutional capacity for increased efficiency and quality of services.

The implementation of this pillar will contribute to increasing the proportion of cooperatives and farmers’ organizations linked to agro-industrial parks from 34% in 2022 to 40% in 2027; wheat production from 5.2 million tonnes to 6.5 million tonnes; and milk from three billion to five billion liters by 2027.

The share of households with access to electricity will rise to 50% of the population by 2027, from 44% in 2022. Energy exports will increase from 1,145 gigawatt-hours per year to 2,374 gigawatt-hours, mainly to Kenya and Djibouti.

Source African Development Bank Group

The Maravi Post has over one billion views since its inception in December of 2009. Viewed in over 100 countries Follow US: Twitter @maravipost Facebook Page : maravipost Instagram: maravipost    
Maravi Post Reporter
Maravi Post Reporter
Op-Ed Columnists, Opinion contributors and one submissions are posted under this Author. In our By-lines we still give Credit to the right Author. However we stand by all reports posted by Maravi Post Reporter.

Most Popular

Recent Comments

The History of online Casinos – Agora Poker – hao029 on The History of online Casinos
Five factors that will determine #NigeriaDecides2023 - NEWSCABAL on Leadership Is Difficult Because Governance Is Very Stubborn, By Owei Lakemfa
Asal Usul Texas Holdem Poker – Agora Poker – hao029 on The Origins of Texas Holdem Poker
Malawi has asked Mike Tyson to be its cannabis ambassador - Techio on Malawi lawmaker Chomanika against Mike Tyson’s appointment as Cannabis Brand Ambassador over sex offence
Finley Mbella on Brand Chakwera leaks Part 1
Maria Eduarda Bernardo on The 2021 Guide to Trading Forex Online
Atsogo Kemso, Political Foot Soldier on Why MCP and UTM Alliance Will Fail
Em. Prof. Willem Van Cotthem - Ghent University, Belgium on Malawi army, National bank cover Chilumba barrack with trees
Christopher Murdock on Why dating older woman is dangerous?
Samantha The Hammer on Why dating older woman is dangerous?
Muhindo Isevahani on The Cold War Against TB Joshua
JCON/SCOAN/BKN(888/8885/8808) on The Cold War Against TB Joshua
Keen Observer on Jesse Kabwila, Then and Now
Francesco Sinibaldi on Advertising in 2020 and beyond