The United States of America is preparing to invest $ 5 billion in Ethiopia over the next three to five years. These funds will be used to support the country’s efforts to develop the private sector, but also to counter China’s growing influence, reports the Financial Times .
They will be invested through the International Development Finance Corporation (DFC) recently installed by the United States. The American financial institution has expressed interest in the telecoms, geothermal energy, logistics and sugar production sectors.
“We are working in partnership with Ethiopia to implement reforms that will attract more capital from the private sector. If adopted, these reforms will make the country eligible for a significant commitment from the DFC which will mobilize several billion dollars from the private sector ”, said Adam Boehler, executive director of the DFC.
Source: Agence Ecofin