Multi-Donor Initiative to Support Private Sector Development

The Ethiopian government has signed a Governance Framework for a Multi-Donor Initiative (MDI) for its private sector development (PSD) in respect to the country’s Growth and Transformation Plan (GTP) on Thursday, May 15, 2014.

The document was signed between the Ethiopian government and donor partners such as the Department for International Development (DFID), the Italian Cooperation, the Swedish International Development Agency (SIDA) and the Canadian International Development Agency (CIDA). The International Finance Corporation (IFC), in collaboration with the Ethiopian government and donor partners, is acting as a secretariat, implementing entity, and administrator of donor’s funds.

The IFC’s strategy for Ethiopia includes bolstering direct investments in priority sectors, small and micro enterprise development and supporting the government in improving the investment climate.

“The overall aim of the MDI is to support Ethiopia’s GTP objectives, including promoting and investing in scalable private sector interventions, aiming to support development and increase access to finance,” stated Resident Representative of the IFC, Amadou Labara.

This signing serves to formalize the collaboration among IFC, the Ethiopian government and donor partners that has now existed for nearly two years.

Source : Addis Fortune

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