Tuesday July 7, 2015, a two day forum in Ethiopia’s capital, Addis Ababa, on Investing in Africa came to an end. This was the first forum set to continue for many years to come, jointly organised by the governments of Ethiopia and China, World Bank Group (WBG), China Development Bank (CDB), the China-Africa Development Fund (CAD-Fund), and the United Nations Industrial Development Organization (UNIDO).
“Specifically, the forum provided the opportunity for the participants to learn how to make special economic zones, and industrial parks work, address infrastructure and trade logistics including regional integration, create the conditions to accelerate development-oriented private sector investment, develop skills required for competitive and job creation and improve agricultural productivity and agri business opportunities,” said Ahmed Shide, Ethiopia’s State Minister of Finance and Economic Development. At the end of the forum he finished by saying that it promoted dialogue between stakeholders, policy makers, development partners, foreign and local investors about how investment may encourage and industrialisation be increased in Africa.
After the conclusion of the forum came the announcement that China has pledged to give more funds to Ethiopia for infrastructural development and industrial park projects.
The deputy director general for the global cooperation department at the China Development Bank Cooperation, Shi Jiyang, told reporters on Wednesday that China is planning to finance railways, power distraction and transmission, industrial parks development and other Ethiopian government run projects.