The World Bank on Tuesday endorsed its new five-year Country Partnership Framework (CPF) to support Ethiopia’s development aspirations.The CPF is in line with priorities outlined in the country’s Growth and Transformation Plan II (GTP-II), according to a press release circulated by the Bank.
Over the past decade, Ethiopia has achieved significant progress in economic, social and human development: The poverty rate has declined from 55 percent in 2000 to 34 percent in 2011.
Real GDP growth has averaged 10.5 percent per year between 2003 and 2015, and life expectancy rose from 52 to 65 years.
Ethiopia has also achieved a number of the Millennium Development Goals. However, despite impressive milestones, significant challenges remain.
The CPF strives to assist Ethiopia in forging a more inclusive and sustainable growth path. Specifically, the CPF will help promote structural and economic transformation through increased productivity in both rural and urban areas by focusing on basic education, increasing access to markets and creating job opportunities for the youth.
It is also designed to help build resilience and inclusiveness (including gender equality) by improving safety nets, investing in productive landscapes, and focusing on the Early Years agenda.
The CPF will also support institutional accountability and assist in combating corruption by focusing on improving governance and promoting social accountability.
“The CPF intensifies our support for poverty reduction in Ethiopia and seeks to address key challenges facing the country. Among other things, our interventions will support increased citizen engagement, greater resilience to the effects of climate change, more inclusive growth, and youth employment,” said Carolyn Turk, World Bank Country Director for Ethiopia.