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Bretton Woods Institutions Must Do the Right Thinng in Ethiopia

May 20, 2023

Aklog Birara Dr.

The World Bank is Ethiopia’s largest donor. Although I disagree with its level of seriousness concerning the fight against corruption, it has done a great deal with regard to social services including health, education and the rest.

As I showed in my article in Amharic several weeks ago, the donor community has pumped billions of dollars into the Ethiopian economy over the past 32 years. The structure remains the same. More than 20 million go hungry each day. Unemployment among youth is among the highest in the world. Funds are squandered for luxury band fairy tail projects.

Recently, the World Bank issued a statement that shows caution. Below is an extract that I urge you to read between the lines.

I urge the Bank and the IMF to do the right thing for the right reasons. Pumping good tax payer money into bad makes no social or economic development sense for Ethiopians. The regime that squanders money must be held accountable.

Blow is the World Bank’s statement, See the last two paragraphs. The Bank must do due diligence. It is in its own and the worl’s interest.

STATEMENTMAY 18, 2023

World Bank Group Statement on Current Situation in Ethiopia

Multiple conflicts combined with historic drought and other shocks have severely impacted millions of Ethiopians, jeopardizing the economic and social development progress the country has achieved in recent years.

Consistent with our strategy to remain engaged in situations of conflict and fragility and to support greater resilience of Ethiopia’s people, the World Bank Group (WBG) remains committed to continuing its partnership with Ethiopia for the benefit of all Ethiopians. Accordingly, the WBG is supporting Ethiopia to address its citizens’ demands for basic human services such as education, food security, health, clean water, livelihood support, women’s empowerment, and social and environmental protection across the country.

 

Over the past decade, our support has helped Ethiopia make significant progress in key human development indicators: primary school enrollments have quadrupled, child mortality has been cut in half, and the number of people with access to clean water has more than doubled.

 

The WBG seeks to ensure that activities it supports are responsive to the needs of all people in Ethiopia. In particular, our Environmental and Social Framework (ESF) is applied to all Bank-financed operations.

Among key ESF principles are requirements for nondiscrimination, meaningful consultation, effective public participation, property rights, accountability, transparency, and good governance.

——

We are closely monitoring the situation throughout the entire country and continue to call for solutions that promote stability and long-lasting peace. Our ultimate goal is to foster an environment conducive to accelerated and inclusive development. We remain committed to supporting initiatives that promote peacebuilding, reconciliation, and sustainable progress.

1 Comment

  1. Bretton Woods institutions are doing the right thing it Ethiopia. They were established to assist in the neo-colonizatoin of the global south and they are doing exactly that. They have bankrupted and fragmented several nations and Ethiopia is being taken down that path.
    How long will our brainwashed African “intellectuals” continue to be driven by the software installed in them through the mis-education they received!
    Please open your eyes.

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