Sweden has signed an agreement with UNDP pledging US$ 5 million to support Ethiopia’s forest sector development programme.
Signing the agreement with UNDP, Ms Annika Jayawardena, head of development cooperation at the Embassy of Sweden in Ethiopia explained that, ‘Sweden’s investment in building climate resilience is a renewed interest in its support for Ethiopia’, and that partnering with a pioneer organization like UNDP strengthens capacity for achieving longer term impact.
UNDP’s Ethiopia and China explore collaborations to promote South-South and Trilateral Cooperation.
Ethiopia’s second national Growth and Transformation Plan (GTP 2015-2020) predicts that employment levels in large and medium enterprises will rise from 380,000 to 757,600 by 2019/20, accounting for an average annual growth of 15%.
The industrial sector share of the country’s GDP is growing over the years and has reached 16.7% in 2015/16, while the same period the manufacturing sector and specifically large and medium scale manufacturing sector accounted for 5.4% and 4.4% of GDP respectively.
The 16th edition of the African Economic Outlook highlights the fact that Africa’s economic performance is reflecting the perils of the global economy. The region’s real GDP growth slowed down to 2.2% in 2016, mainly due to the continued fall in commodity prices and weak global economic growth. East Africa was the fastest growing region at 5.3% real GDP growth, followed by North Africa at 3%. Growth in other regions was anaemic, ranging from a low of 0.4% in West Africa, dragged down by the recession in Nigeria, to 1.1% in Southern Africa, with South Africa, the region’s largest economy, posting only 0.3% growth.
With dynamic private sectors, entrepreneurial spirit and vast resources, Africa has the potential to grow faster and more inclusively. The continent’s average growth is expected to rebound to 3.4% in 2017, assuming that the recovery in commodity prices is sustained, the world economy is strengthened and domestic macroeconomic reforms are entrenched. In 2018, growth is expected to consolidate, expanding by 4.3%.
UNDP has operated in Ethiopia since 1981. Since then, UNDP has focused on providing Ethiopia with strategic support to build national capacity and enhance the country’s development results in the areas of poverty reduction and econmic growth, democratic governance as well as climate resilient development.
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