In line with the country's Growth and Transformation Plan, the Ethiopian Government signed a Governance Framework for a Multi-Donor Initiative for private sector development, on Thursday (May 15).
The document was signed between the Ethiopian Government and donor partners including the UK Department for International Development, and the Italian, Swedish and Canadian Development Agencies.
This move serves to formalize the collaboration among the International Finance Corporation (IFC), the Ethiopian government and donor partners that has been working for nearly two years. The IFC, in collaboration with the Ethiopian Government and donor partners, is acting as a secretariat, implementing entity, and administrator of donor funds.
The IFC's strategy for Ethiopia includes bolstering direct investment in priority sectors, including small and micro enterprise development and supporting the Government in improving the investment climate.
The Resident Representative of the IFC, Mr. Amadou Labara, said the "overall aim of the Multi-Donor Initiative is to support Ethiopia's Growth and Transformation Plan objectives, including promoting and investing in scalable private sector interventions, aiming to support development and increase access to finance."