Ethiopia's poverty reduction plan praised by World Bank

Ethiopia's poverty reduction plan praised by World Bank

 

Sapa-AFP - October 18 2001

 

Addis Abbaba - World Bank chief economist Nicholas Stern has praised Ethiopia for its

efforts towards poverty reduction, a concept that now underlies much of the Bretton Woods

institutions' lending, a World Bank statement said.

 

"Mr Stern congratulated the government for its comprehensive and impressive vision for

reducing poverty in Ethiopia," according to the statement released Thursday, a day after

Stern met Ethiopian Prime Minister Meles Zenawi.

 

"Accordingly, the World Bank will work on developing a strong and sustained support for

Ethiopia focusing on infrastructure (especially roads), capacity building and rural

development," the World Bank said.

 

"The government's program constitutes a dynamic and comprehensive strategy, with very

good prospects of generating sustained long-term growth and empowering the poor to

participate strongly in this process."

 

On Tuesday, Meles undertook to focus the work of his government on development and

poverty reduction when he announced a cabinet reshuffle which saw the creation of several

so-called "super-ministries."

 

In May next year, Ethiopia is due to submit a final version of its Poverty-Reduction Strategy

Plan to the International Monetary Fund and the World Bank.

 

The World Bank gave more money to Ethiopia in the 2000 to 2001 year than to any other

sub-Saharan country: some $668 million. - Sapa-AFP