ADDIS ABABA – International Finance Corporation (IFC) would support Ethiopia’s development through equipping private owners with suitable financial assistance, said IFC CEO.
Briefing Journalists yesterday on the agreement inked between IFC and National Bank of Ethiopia, IFC CEO Philippe Le Houerou noted that Ethiopia’s recent reform in general and particularly the economic policy amendment encourages the corporation in terms of supporting the country’s private industry.
As to him, the IFC would work on improving credit, trade and market creation to the private sector to invest in the country in cooperation with other international partners.
National Bank of Ethiopia Governor Dr. Yinager Dessie for his part said that the agreement would help to prolong the country’s economic growth through strengthening the private owners’ engagement in various development programs.
Similarly, the agreement is also significant to strengthen selected private and public banks through allowing them possible guarantee facility by the IFC so that they would confidently work together with other world banks, he stated.
On the occasion, Ethiopian Finance Minister Ahmed Shide said that the agreement would help the country to curb its foreign currency shortages.
He also noted that the agreement would promote investment in the country as it allows the private owner to get adequate financial assistance.
December 18/2018
BY YOHANES JEMANEH
