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World Bank Group’s President visits Ethiopia, discusses country’s economic reform with PM

Devdiscourse News Desk | Addis Ababa | Updated: 02-05-2019 15:41 IST | Created: 02-05-2019 15:41 IST
World Bank Group’s President visits Ethiopia, discusses country’s economic reform with PM
David Malpass said that Ethiopia is currently laying a solid foundation with the economic reforms. Image Credit: Flickr / World Bank Photo Collection

The President of the World Bank Group, David Malpass is currently in Ethiopia. During his latest meeting with the Ethiopian government officials in the capital city, Addis Ababa, he expressed his institution's support to the ongoing economic reform of Ethiopia.

World Bank Group's President, David Malpass also met Ethiopia's Prime Minister, Abiy Ahmed. David Malpass said that Ethiopia is currently laying a solid foundation with the economic reforms. He said that Ethiopian is making progress in its economic reform mainly in mining, energy, tourism and agriculture, according to the government news agency ENA. The report also stated that the President of the World Bank Group has also appreciated the restoration of peace between Ethiopia and Eritrea for improving the lives of the people in the region.

The PM Office has also twitted "…he (David Malpass) affirmed the World Bank Group's continued partnership. The World Bank Group is an important source of development finance & knowledge for Ethiopia."

In Ethiopia, the World Bank has been financing different economic activities by investing around ten billion dollars so far. David Malpass, who has come to the presidency of the World Bank Group following the sudden resignation of Jim Yong Kim a few months ago, also promised that the Bank will continue to support the economic development of Ethiopia, as reported by New Business Ethiopia.

Ethiopia is one of the founding members of the World Bank Group, which was established following the end of World War II in 1945. After completing his visit in Ethiopia David Malpass is expected to travel to Egypt and Mozambique.

Also Read: Ethiopia-Sudan Business Forum aims to boost biz relations between two nations


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