Ethiopia is actively pursuing fresh budgetary support from the African Development Bank Group (AfDB) as part of its participation in the institution’s high-level Annual Meetings currently underway in Abidjan. The Ethiopian delegation, led by State Minister of Finance Semereta Sewasew, is using the platform to engage key bilateral and multilateral partners in a bid to unlock vital financial resources.

On the sidelines of the meetings, the State Minister held substantive discussions with senior officials from major development partners, including Eric Meyer, Deputy Assistant Secretary for Africa at the U.S. Department of the Treasury, and Steven Collet, Deputy Director-General of International Cooperation at the Netherlands’ Ministry of Foreign Affairs. Talks centered on bolstering economic cooperation and expanding strategic partnerships in sectors critical to Ethiopia’s development agenda.

The delegation’s primary mission, however, includes presenting Ethiopia’s request for a new budget support project—a move that underscores the country’s need for external financing to maintain macroeconomic stability and continue development programs amid global shocks and regional fiscal constraints.

The request comes at a time when many African economies, including Ethiopia, are grappling with high debt stress, reduced access to concessional financing, and mounting climate-related vulnerabilities. Ethiopia’s approach reflects a broader trend among African nations seeking adaptive, long-term financial partnerships with institutions like the AfDB to weather ongoing challenges.

As part of the high-stakes gathering, State Minister Semereta is also scheduled to participate in the election of the next AfDB President, set for 29 May 2025. The incoming leader will take charge of the continent’s premier development bank at a time of declining development assistance and heightened global volatility.

Beyond the election, the Ethiopian delegation is expected to join thematic sessions on climate finance, debt sustainability, and resource mobilization, while continuing bilateral consultations with international partners.