ADDIS ABABA — The World Bank and the Ethiopian Government have completed a Joint Country Portfolio Performance Review (CPPR), focusing on the advancement of World Bank-supported projects within the nation.
According to the Ethiopian News Agency (ENA), the CPPR's primary objective was to evaluate the progression of these projects, pinpoint the hurdles in implementation, and strategize solutions for improving the overall performance of the portfolio.
Over the course of the two-day conference, more than 170 participants, including high-ranking officials from the World Bank, Ethiopian ministers, state ministers, and staff from project implementation units, scrutinized the performance of 33 World Bank-funded projects. These are part of a broader initiative comprising 43 active projects, which together have a net commitment of around 15 billion USD.
The assembled group formulated an action plan to hasten the progress of key sectoral projects encompassing sustainable development, human development, infrastructure, and financial sectors, among others.
The CPPR proceedings underscored the robust performance of Ethiopia's portfolio under the World Bank, revealing a commendable 60 percent disbursement ratio as of November 2, 2023. The gathering also brought to light significant impediments that could potentially impede the portfolio's effectiveness, necessitating immediate action to maintain the momentum of project completion.
World Bank Country Director for Eritrea, Ethiopia, South Sudan, and Sudan, Ousmane Dione, stated the critical nature of such reviews. The meetings serve to appraise the progress of projects, reflect on achievements, pinpoint roadblocks, and collaborate on effective resolutions, ensuring judicious use of funds and generating substantial outcomes for Ethiopians.
In response to the outcomes of the CPPR, both the World Bank and the Ethiopian Government concurred on a set of measures aimed at bolstering portfolio performance. These steps will tackle issues and hindrances associated with overarching concerns such as fiduciary responsibilities, procurement, and project safeguards.
Finance Minister Ahmed Shide commended the World Bank for its steadfast partnership with Ethiopia, highlighting the institution's commitment through both favorable and challenging times. He lauded the collaborative discussions during the CPPR, which yielded constructive dialogue on the execution and difficulties of various projects.
The Minister underscored the CPPR's crucial role in resolving implementation challenges and prompted the creation of action plans to expedite advancement and circumvent project implementation hurdles.
In closing remarks, Minister Shide reiterated the government's dedication to enhancing portfolio performance by addressing the identified challenges. He extended thanks to both the World Bank and the Ministry of Finance teams for their concerted efforts to meet the country's developmental goals.