Africa-Press – Ethiopia. Ethiopia has shown resilience in the face of adversity as the country has chosen reform over retreat, Development Partners Group (DPG) in Ethiopia Co-chair Leandre Bassole said.
The Co-chair of DPG, who is also Deputy Director-General for the East Africa Region at AfDB, said Ethiopia stands at a pivotal juncture in its development journey as the country has shown resilience in the face of adversity.
Noting that the country has chosen reform over retreat, Bassole said the Homegrown Economic Reform agenda is ambitious but necessary as development partners are fully behind it.
He described the opening of key sectors such as telecom, the banking sector, logistics, the transition to a market-based exchange rate system, and the ongoing macroeconomic stabilization efforts as signals of the country’s economic transformation.
Ethiopia is serious about attracting investment, deepening private sector participation, and achieving inclusive growth, the co-chair stated.
“We, as development partners, believe that private investment, both domestic and foreign, is essential to creating jobs, advancing technology, and accelerating structural transformation.”
Bassole stressed that the role of government is vital; but it is the private sector that must now take the lead in building the next phase of Ethiopia’s growth.
Development partners are ready to support this journey not only in financial assistance, but also more importantly in helping to de-risk investment.
“As Ethiopia deepens its integration within the African Continental Free Trade Area and strengthens its international partnerships under the visionary leadership, it is well placed to become a regional hub for investment, trade and innovation.”
He also acknowledged Ethiopia’s immense potential, a large and youthful population, growing demand, and reform-minded government and strategic geographic location.
Development partners are here as allies, committed to working with the Government of Ethiopia, the private sector and the international community to unlock a new era of sustainable and inclusive growth for the people of Ethiopia, the co-chair affirmed.
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