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New World Bank President to visit Ethiopia

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The new President of the World Bank Group will be visiting Ethiopia for two days to meet with top government officials, starting from Monday July 31, 2023. Ajay Banga, an Indian American global financial leader who started his five-year term on June 2, this year, will meet with Prime Minister Abiy Ahmed, Minister of Finance Ahmed Shide, and Governor of the National Bank of Ethiopia, Mamo Mihretu.

Despite the reluctance of some global partners to support Ethiopia in connection with the northern Ethiopia conflict, the World Bank has continued its partnership. PM Abiy recently expressed appreciation for the World Bank’s support for social and economic development in the country, as budget support expected from international partners has been eroded.

During his visit, Banga will focus on identifying opportunities to create jobs for young people and women. He will also visit textile and shoe manufacturing facilities, malt production operations with ties to local farmers, and meet with women small business owners. In addition to meeting with government officials, Banga will meet with CEOs and business leaders as part of an effort to increase private sector investment.

Banga will also meet with the African Union Commission Chairperson, Moussa Faki Mahamat, to discuss ways to strengthen partnerships and collaborations between the World Bank and the African Union. Victoria Kwakwa, World Bank Vice President for Eastern and Southern Africa, and Mohamed Gouled, International Finance Corporation Vice President for Industries, will accompany Banga on the trip. After visiting Ethiopia, Banga will travel to Nigeria, following earlier tour stops in Peru, Jamaica, and India.

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