Africa-Press – Ethiopia. Prime Minister Abiy Ahmed said Ethiopia’s resilience amidst challenges is evident through structural economic reforms, prioritizing macro stability and productivity.
Addressing the IDA21 Africa Heads of State Summit in Nairobi, Abiy said Ethiopia has been harnessing resilience in the face of a spectrum of challenges aggravated by external forces, such as climate change, geopolitical tension, and the soaring global cost of living.
“The Ethiopia government has navigated structural, macro-economic reforms, amid challenges focusing our attention on macro financial stability, productivity enhancement, and favorable investment environment,”the premier stated.
Like many IDA countries, Ethiopia faces unemployment and skill gap challenges, he said, adding with the government privatizing accessible education to empower citizens while encouraging youth engagement in startups across various fields, according to Abiy.
Investment in skills and education is central to Ethiopia’s 10 year development plan with a focus on sectors like agriculture, manufacturing, and tourism, expected to cover over 2 million new jobs.
On other hand, Prime Minister Abiy added that universal energy access stands as a cornerstone for sustainable development.
“We are massively investing on clean and renewable energy generation projects, which aims to accelerate universal access to affordable and reliable energy for all our people.”
The digitalization of economies has immense potential to enhance connectivity, spur innovation, and expand access to essential services, he said.
In Ethiopia, our telecom sector liberalization, mobile money and digital payment system have expanded financial access in the country.
On other hand, Abiy elaborated that the Horn of Africa faces escalating threats from climate change, including rising temperature, food insecurity, and extreme weather events.
Ethiopia is actively countering this challenge through its Green Legacy Initiative, privatizing afforestation, reforestation and environmental conservation with over 32.5 billion seedlings planted towards a goal of 50 billion in two phases.
Ethiopia aligns with global agreements like the Paris Climate Change Agreement and the 2030 Agenda for Sustainable Development Goals.
While the international development Association’s existing support must be commended, he said, adding the sheer scale for the challenges facing many African countries necessitate a renewed approach.
“We urge IDA to significantly enhance its financial capacity and funding models, specifically increased support for crisis, preparedness, response and recovery is essential,” he underlined.
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