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UN Foresees $7.1b in Funding to Support Ethiopia Growth Plan

Sep 10 , 2020

The United Nations projects 7.1 billion dollars in funding are needed to support Ethiopia's development ambitions in the coming decade.

The federal government has launched a 10-year growth plan to replace its previous Homegrown Economic Reform Agenda.

More than 20 UN agencies are expected to mobilise these resources, including the United Nations Development Programme (UNDP), the World Food Program (WFP) and the World Health Organisation (WHO).

The resources will focus on supporting Ethiopia in economic growth, human capital development, institutionalisation, and environmental and sustainability policy, according to Ahmed Shide, minister of Finance.

The minister signed an agreement with Catherine Sozi (MD), UN resident representative and humanitarian coordinator for Ethiopia, yesterday.

"This is initial funding," he told Fortune. "We expect additional finances over the implementation period."

Produced by the National Planning & Development Commission, the new 10-year plan aspires to have GDP grow by 10.2pc annually. It is a follow-up to the second edition of the Growth & Transformation Plan (GTP II).

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