Finance Minister Pitches Mega Airport, Power Projects as IFC Portfolio Reaches $500 Million
Ethiopia is seeking to expand its partnership with the International Finance Corporation (IFC) to fund major infrastructure projects, including the new Bishoftu International Airport. The IFC's current portfolio in the country has grown significantly to $500 million.
Why it matters
Increased investment in Ethiopian infrastructure signals a push for regional economic development and improved aviation capacity in East Africa.
Ethiopia has asked the International Finance Corporation to expand its investment beyond its current 500 million US dollars portfolio, placing the planned Bishoftu International Airport and privately financed power projects at the centre of efforts to attract capital for infrastructure.
Finance Minister Ahmed Shide and IFC Managing Director Makhtar Diop discussed the proposed expansion in Addis Ababa on September 2, according to the Ministry of Finance.
The talks covered direct project investment, public-private partnerships and the mobilisation of private capital for transport, energy and housing. No new financing commitment, target or timetable was announced.
IFC’s portfolio in Ethiopia currently stands at about 500 million US dollars, spread across telecommunications, financial services, agribusiness, manufacturing, healthcare and tourism, the ministry said.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in