Ethiopian Energy^Power Business Portal,eepBp

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If former Minister of Finance Sufian Ahmed had said the foreign exchange shortage is structural and will remain with Ethiopia for decades to come, that is precisely what Eyob Tekaleign (PhD), state minister for Finance, would want to see changed. The foreign exchange crunch should stop defining the Ethiopian economy, Eyob declared early on last week, standing before members of the international community, briefing them on the new economic reform agenda conveniently characterised as “homegrown”. The audience was receptive to the "ambitious" reform the administration of Prime Minister Abiy Ahmed (PhD) rolled out and agreed it is "doable".

"The Reform Agenda is our pro-job, pro-growth, and pro-inclusivity pathway to prosperity," said the Prime Minister. "Join us on this path." In the making for over one and a half years, the tabled reform agenda sees a major departure from the previous dogmatic approach in its aim to rebalance macroeconomic fundamentals and sustain growth. A team of experts from the Ministry of Finance, the macroeconomic team of the Prime Minister, and the National Bank of Ethiopia (NBE) designed the plan to be implemented in the next three years. In his address to the international community, the Prime Minister praised members of this group as "Ethiopia's finest minds."

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In a country of approximately 100 million people, roughly 44% of Ethiopians have access to electricity. Ethiopia’s National Electrification Program 2.0 aims to fill this electricity access gap: by ensuring 100% access by 2025.

To reach this ambitious target, the government is engaging in an array of innovative partnerships with development organizations and the private sector, helping make sure that no one is left behind in the push for universal access to electricity.

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Ethiopia’s Ministry of Water, Irrigation and Energy (MoWIE) to host a Water and Energy Week from June 17 – 20, 2019 in Addis Ababa Ethiopia.

The week’s theme – Transformation of Water and Energy for Ethiopia’s New Horizon of Hope - will explore in greater depth Ethiopia’s water and energy development by looking at the past to learn from it, probing the present to evaluate the shortcomings and gaps to correct and fill, and outlining the path forward to help the country achieve its Sustainable Development Goals.

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The World Bank’s Board of Executive Directors approved $200 million Renewable Energy Guarantees Program (REGREP) to mobilize International Development Association (IDA) guarantees under a Multi-phased Programmatic Approach (MPA). The program will support the Government of Ethiopia’s ongoing power sector reforms and leverage private sector financing for renewable energy generation.

Ethiopia has vast and largely unharnessed clean energy resources. Today, Ethiopia is one of the few countries in the world which generates almost all the electricity from renewable resources, mostly hydropower, which also makes it vulnerable to climate change. The country also has vast and mainly untapped solar, wind, and geothermal energy resources. This program supports diversification from hydropower and towards modern renewables – in solar and wind power. REGREP will support the development of over 1,000 MW of greenfield solar and wind energy Independent Power Producer (IPP) projects in Ethiopia, including the World Bank Group Scaling Solar initiative.

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