{"id":28352,"date":"2024-05-01T11:31:27","date_gmt":"2024-05-01T11:31:27","guid":{"rendered":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources"},"modified":"2024-05-01T12:37:04","modified_gmt":"2024-05-01T12:37:04","slug":"ethiopia-consults-with-development-partners-to-diversify-its-financing-sources","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources","title":{"rendered":"Ethiopia Consults with Development Partners to Diversify its Financing Sources"},"content":{"rendered":"

Africa-Press – Ethiopia. <\/strong><\/span>The Government of Ethiopia and Development Partners Group (DPG) have undertaken a retreat today in Africa Leadership Excellence Academy in the presence of State Ministers and Heads of Development Partners.<\/p>\n

The retreat is a follow up event on the High-Level Development Forum (HLDF), held on the 14th of March in which the Government and the DPG renewed their commitment to work together on addressing the challenges on peace-building, resilience and macro-economic development.<\/p>\n

In her opening remarks, State Minister of Finance, Semereta Sewasew asserted that strong alignment with the national development priorities, diversification of sources of finance and due emphasis on the humanitarian-development-peace nexus are important factors to gear the joint efforts of the DPG and the government in the desired direction of success.<\/p>\n

The retreat was first guided by a presentation on the draft Medium-Term Development and Investment Plan of Ethiopia (MDIP 2023\/2024-2025\/2026) and followed by the draft Sustainable Financing Strategy.<\/p>\n

The Ministry of Planning and Development expounded the three-year priority areas of MDIP which are derived from the Ten Year Development Plan and aligned with HGER 2.0.<\/p>\n

The MDIP puts the expected growth of sectors of which industry is expected to grow more.<\/p>\n

The DPG appreciated the preparation of the MDIP in detail manner and also reflected the importance of focusing more on specific challenges that Ethiopia is currently facing.<\/p>\n

The retreat also discussed the draft report of Ethiopia\u2019s Sustainable Financing Strategy (ESFS).<\/p>\n

The strategy has been prepared with the leadership of the Ministry of Finance intending to come up with a financing framework providing diversified sources of financing for the growing development needs of the country.<\/p>\n

The financing strategy identifies four sources of financing which are domestic public financing, international public financing (ODA), domestic private source and international private source.<\/p>\n

As outlined on the presentation, Ethiopia\u2019s development finance for the past several years has been mostly dependent on local public investment which is not sustainable and insufficient.<\/p>\n

The strategy recommends unpacking the financing potential with the growing role of both local and international private sector and using the government investment as catalytic role.<\/p>\n

In this regard, the strategy argues that there should be a new mechanism of financing several sectors in Ethiopia through attracting private investments which at the moment are being run by the government funding mostly insufficiently and inefficiently.<\/p>\n

The DPG welcomed the draft financing strategy and appreciated the intent of pooling in more private actors in the economy in a new commitment and spirit.<\/p>\n

Semereta also appreciated the idea of introducing crowding in commercial financing to ensure sustainable financing of the development needs.<\/p>\n

The Co-Chairs of DPG, Semereta Sewasew, Dr. Ramiz Alkbarov, UN Resident and Humanitarian Coordinator and Phil Elks, acting development director, FCDO led the discourses, according to Ministry of Finance.<\/p>\n

For More News And Analysis About Ethiopia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ethiopia. The Government of Ethiopia and Development Partners Group (DPG) have undertaken a retreat today in Africa Leadership Excellence Academy in the presence of State Ministers and Heads of Development Partners. The retreat is a follow up event on the High-Level Development Forum (HLDF), held on the 14th of March in which the […]<\/p>\n","protected":false},"author":84,"featured_media":28351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[233,277,235],"class_list":["post-28352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-ethiopia-2","tag-ethiopia"],"yoast_head":"\nEthiopia Consults with Development Partners to Diversify its Financing Sources - Ethiopia<\/title>\n<meta name=\"description\" content=\"The Government of Ethiopia and Development Partners Group (DPG) have undertaken a retreat today in Africa Leadership Exc ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethiopia Consults with Development Partners to Diversify its Financing Sources\" \/>\n<meta property=\"og:description\" content=\"The Government of Ethiopia and Development Partners Group (DPG) have undertaken a retreat today in Africa Leadership Exc ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources\" \/>\n<meta property=\"og:site_name\" content=\"Ethiopia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-01T11:31:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-01T12:37:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2024\/05\/sm_1714550610.093171.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"587\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ethiopia Consults with Development Partners to Diversify its Financing Sources\",\"datePublished\":\"2024-05-01T11:31:27+00:00\",\"dateModified\":\"2024-05-01T12:37:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources\"},\"wordCount\":480,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2024\/05\/sm_1714550610.093171.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ethiopia\",\"ethiopia\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources\",\"url\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/ethiopia-consults-with-development-partners-to-diversify-its-financing-sources\",\"name\":\"Ethiopia Consults with Development Partners to Diversify its Financing Sources - 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