European Investment Bank commits to support Ethiopia’s green dev’t efforts

Addis Ababa, May 15, 2025 (FMC) – On the sidelines of the ongoing Ethiopia Finance Forum 2025, the National Bank of Ethiopia (NBE) and the European Investment Bank (EIB) signed a Memorandum of Understanding (MoU) to enhance cooperation in support of Ethiopia’s green development agenda.

The agreement was signed at the Science Museum in Addis Ababa by Mr. Solomon Desta, Deputy Governor of NBE, and Ms. Leila Traoré, EIB Representative to Ethiopia and the African Union.

Speaking at the MoU signing, Mr. Solomon Desta said the agreement marks a strategic step toward strengthening institutional collaboration and accelerating Ethiopia’s transition to a climate-resilient economy.

“The MoU opens new avenues for technical and financial cooperation as Ethiopia advances its vision of a green and inclusive economy,” he noted.

Ms. Leila Traoré commended Ethiopia’s commitment to sustainable development and emphasized the importance of early investment in climate resilience.

“Ethiopia’s green development efforts are commendable,” she said. “Countries that have delayed such action are now confronting serious consequences. The EIB is proud to support Ethiopia in building a sustainable and climate-smart future.”

The European Investment Bank, the lending arm of the European Union, reaffirmed its readiness to back Ethiopia’s green economy initiatives through financial support, policy dialogue, and technical assistance.

This collaboration is aligned with Ethiopia’s Climate-Resilient Green Economy Strategy (CRGE) and broader national development goals, reinforcing the role of international partnerships in supporting Ethiopia’s long-term sustainability, it has been learned.

Held from May 15–16, the Ethiopia Finance Forum 2025 has brought together financial policymakers, development partners, private sector actors, and diaspora stakeholders to explore reform and investment opportunities in Ethiopia’s financial sector.