The World Bank and the Government of Ethiopia concluded assessment of the implementations of the 43 projects in Ethiopia worth $15 billion financed by the Bank.
“During the two-day meeting, over 170 participants, including relevant World Bank officials, ministers, and state ministers, as well as staff of project implementing units, came together to review the performance of 33 World Bank-financed projects. These projects are part of a larger set of ongoing operations, totaling 43 in number, with a combined net commitment value of approximately USD 15 billion,” the Ministry of Finance of Ethiopia said in a statement shared on its social media page a few hours ago.
“The participants collectively developed an action plan to accelerate the implementation of projects in key sectors such as sustainable development (Agriculture Growth, Food Security, Environment and Natural Resources, Water and sanitation, Urban Development), Human Development (Health, Nutrition and Population, Education, Social Protection and Jobs), Infrastructure (Energy, Transport, Digital Development), Finance, Competitiveness, and Innovation (Financial Sector Growth, Trade, Competitiveness and Jobs Creation, etc.),” according to the statement.
“The CPPR meeting highlighted the positive performance of the Ethiopia portfolio, with a cumulative disbursement ratio of 60 percent as of November 2, 2023. However, it has also identified major constraints that could potentially slow down portfolio performance if not promptly addressed. The meeting focused on identifying critical challenges and finding solutions to ensure smooth and effective implementation of ongoing projects,” it said.
“The CPPR meeting emphasized the importance of jointly assessing project implementation performances, taking stock of accomplishments, identify bottlenecks, and find collaborative solutions. By doing so, the aim is to ensure the timely and efficient utilization of allocated funds and deliver bigger, better, and faster results for all Ethiopians,” said Ousmane Dione, World Bank Country Director for Eritrea, Ethiopia, South Sudan, and Sudan.
It is stated that moving forward, both the World Bank and the Government of The Federal Democratic Republic of Ethiopia have agreed on a set of actions to improve the performance of the portfolio. “These actions will address challenges and bottlenecks related to crosscutting issues, including fiduciary, procurement, and safeguards,” it said.
“Ahmed Shide, Minister for the Ministry of Finance acknowledged and appreciated the World Bank’s unwavering commitment to supporting Ethiopia’s development endeavors in both favorable and challenging times. He recognized the Bank’s steadfast support and its commitment to the long-term development and well-being of the Ethiopian people.”
Emphasizing the significance of the CPPR, “the Minister stressed its role in resolving implementation issues. He encouraged the entities to develop action plans that would expedite progress and overcome any obstacles encountered during project implementation,” statement noted.