U.S. Prepares to Make 'Multi-billion-dollar Investments in Ethiopia'

U.S. Prepares to Make ‘Multi-billion-dollar Investments in Ethiopia’

ADDIS ABEBA – U.S. development financier the International Development Finance Corporation (DFC) announced its preparing to make multi-billion-dollar investments in Ethiopia.

The US embassy in Ethiopia said the DFC’s Chief Executive Officer Adam Boehler was in a two-day visit to Ethiopia starting from Wednesday.

The embassy said his visit was aimed at promoting U.S. investment in Ethiopia as well as strengthening relationships with key partners in support of mutual development goals.

During his stay in Addis Ababa, Boehler met with President Sahlework Zewdie, Prime Minister Abiy Ahmed, National Bank of Ethiopia Governor Dr. Yinager Desse, Minister of Finance Ahmed Shide, Minister of Water, Irrigation and Energy Dr. Sileshi Bekele and leaders from the private sector.

The meetings were focused on DFC’s approach to mobilize private capital to invest in projects that create jobs and opportunities in emerging markets.

“We are prepared to make multi-billion-dollar investments in Ethiopia and its people,” CEO Adam Boehler said. “This collaboration is an opportunity for Ethiopia and the United States to strengthen our relationship around the shared goal of economic growth and prosperity.”

The visit marks Boehler’s first official travel to Ethiopia as CEO of the DFC, a new U.S. Government agency that combines and modernizes the Overseas Private Investment Corporation (OPIC) and USAID’s Development Credit Authority (DCA).

Equipped with a more than doubled investment cap of $60 billion and new financial tools, DFC has more resources to mobilize private sector capital to address development challenges and advance U.S. foreign policy in priority regions such as Sub-Saharan Africa.

Caption: Boehler speaking with governer of national Bank of Ethiopia Dr. Yinager Desse [photo US embassy]