Finance Minister Lauds IDA for Supporting Ethiopia’s Covid-19 Response

ADDIS ABABA –Finance Minister Ahmed Shide on Thursday expressed his country’s appreciation for International Development Association (IDA) for providing rapid support to Ethiopia’s COVID-19 response measures.

He said this during a virtual meeting, attended by several African leaders, focusing on generating support for the 20th replenishment of the IDA.

The main objective of the replenishment is to support Africa to have a resilient economy and recovery from the COVID-19 crisis as well as help the continent continue its economic transformation.

The Minister, on behalf of President Sahle-Work Zewde, delivered Ethiopia’s message which emphasized the importance of continuing IDA’s highly concessional financing for African countries.

The support would widen fiscal space and boost their ability to respond to the crisis without adding to debt vulnerabilities, said Ahmed who used the opportunity to express his appreciation for IDA’s in providing rapid support to his country’s COVID-19 response.

Since April 2020, IDA has been supporting Ethiopia for COVID emergency response.

The support amounted to approximately $1.7 billion while $304.5 million was provided as direct support to combat the COVID emergency.

The leaders who attended the meeting pushed for early IDA20 replenishment and indicated its significance for crisis recovery and restoring our development trajectory towards the 2030 development agenda.