Ethiopia's acting Finance Minister, Mr. Teferra Wolde-Semaiat, said in Addis Ababa on Wednesday (4 August)?
Ethiopia's acting Finance Minister, Mr. Teferra Wolde-Semaiat, said in Addis Ababa on Wednesday (4 August) that Ethiopia would welcome programme lending as opposed to project lending as this would allow flexibility in meeting the greater needs of countries.
SYNOPSIS: Mr. Teferra was speaking at Africa Hall at the opening session of a working party of the African governors of the World Bank. The Finance Minister, who is governor of the World Bank group for Ethiopia, said the meeting should review working procedures which were causing inefficiencies.
The meeting was preparing a statement to be made by spokesmen of the Group of Governors of African Central Banks at a forthcoming annual International Monetary Fund and International Bank of Reconstruction and Development meeting. Delegates from 12 African countries, the IMF, the Organisation of African Unity and the Economic Commission for Africa were at the session.
Mr. Teferra urged the World Bank to show greater flexibility in its policy of programme loans. He said programme loans would allow flexibility in meeting the greater needs of members based on their own plans and targets than would project loans.