Costantinos Berhutesfa Costantinos
580 California St., Suite 400
San Francisco, CA, 94104
Ethiopia's application to join the New Development Bank (NDB
2025, Respublica Litereria
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Abstract
Within the broad spectrum of infrastructure and sustainable development, NDB’s operation focus on a range of key areas: clean energy and energy efficiency, transport infrastructure, water and sanitation, digital infrastructure, environmental protection and social infrastructure Hence Ethiopia could benefit greatly from these facilities to promote its transition into an African industrial hub in addition to the support it receives from other multilateral and bilateral sources,
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Infrastructure for Sustainable Development: The Role of National Development Banks
Development banks are increasingly becoming relied upon to help finance sustainable infrastructure in the 21 st century. Much of the emphasis has been on the role of the existing multilateral development banks (MDBs), but lesser attention has been paid to the role of national development banks (NDBs). To help fill this gap, Boston University's Global Economic Governance initiative (GEGI) and the Brookings Institution's Global Economy and Development program convened a Task Force on Development Banks and Sustainable Development to examine the extent to which development banks are becoming catalysts for achieving a climate friendly and more socially inclusive world economy. Based on these assessments, the group's main findings are that: • National development banks are overlooked but essential players in the developmental financing regime. With over 250 national development banks holding at least $5 trillion in assets, NDBs dwarf the Western-backed multilateral development banks in scale, scope and roots in local political economies and project processes. • Infrastructure is largerly not a priority for the vast majority of NDBs, and for most sustainable infrastructure is an afterthought at best. While no one NDB stands out as a model sustainable infrastructure bank, we have identified a number of key programs and projects that can be shared and scaled up by other NDBs and MDBs. • NDBs are poised for a leadership role. Given how close NDBs are to the project space, NDBs are poised to play a leadership role in promoting and expanding sustainable infrastructure at the national and global level. Indeed, through the International Development Finance Club, some NDBs have begun to do so already.
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The Brics new development Bank (ndB) is set to issue its first loans in the second quarter of 2016. The bank, the latest addition to the global development finance landscape, was initiated due to a number of factors in emerging economies. one of the key issues that emerging economies, including the Brics group, struggle with is the slow pace of reform in existing global financial institutions to better reflect the current political and economic realities (which in some cases deviate significantly from when these organisations were created in the post-second World War era). emerging economies also suffer from serious infrastructure funding deficits, which can be addressed by drawing on the significant domestic savings across developing countries. The ndB was thus born partly as a result of these factors. since its conception in 2011 the bank has begun taking form, including finalising legal arrangements, assigning different roles and responsibilities among the five founding Brics mem...
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This paper explores the way in which various actors cooperate in effectively implementing environmental and social safeguards measures on infrastructure projects financed by multilateral development banks (MDBs). It first sets the policy context, which has moved towards fostering partnerships between MDBs and states on environmental and social safeguards. It then highlights some of the reasons for the hesitancy on the part of MDBs, as well as implementation challenges that have arisen because of this shift. The paper examines specific case studies from South Africa and Ethiopia. South Africa has some of the most advanced environmental and social legislation worldwide, while Ethiopia is a rapidly growing economy where the government is prioritising mega-infrastructure projects (road, rail and electricity) as the path to economic development. Lastly, it unpacks some of the most pressing issues in improving MDB–state coordination, such as the increasing need for country specificity in environmental and social requirements, a bigger role for civil society and MDB accountability mechanisms in ensuring compliance with environmental and social policies and procedures, and renewed efforts towards meaningful capacity building. The paper concludes with policy recommendations for improved environmental and social safeguards for MDBs and recipient countries alike.
Interview Xinhua with Costantinos How will Ethiopia (and Africa in General) become the Next Factory of the World
Respublica Litereria - RL Vol XIII No 611 MMXIX, 2019
A study was conducted by my former master’s student, Misgana Kifle, MPA, to examine the industrial development strategy of Ethiopia. The researcher embarked on a literature review and collected primary and secondary data. The findings of empirical studies were reviewed and triangulated with the content of the interviews that were held with key informants. While the findings point to a strategy that has encouraged growth of the sector and contributed to the development of the national economy, three major obstacles must be overcome in order to make industrial policy more successful. These are bad economic advice, best practice that can provide you with a golden ticket to economic prosperity identified by development agencies and private consultancies and finally the allure of FDI. The success of industrial policy will be greatly enhanced by recognition of the wealth latent in their own national value chains and of their right and responsibility to limit foreign presence when it infringes on their capacity to build an economy and which serves their popula-tions’ needs . The right leadership is needed at all levels and in the various sectors to address what we see as the first order challenges including the crisis of confidence, taking ownership of the industrialisation. The leadership must also be able to negotiate the development context, including with the external world to advance national interests. Good leadership, however, does not simply appear‐it is often a reflection of the society and the institutions that produce the leadership. In this respect, ‘followers’ (citizenry) have a critical role to play. They must demand more from their leadership to ensure that all members of society have equal opportunity both political and economic. Ethiopia has benefited from Chinese investments, grants and loans. It has built 74,000 kilo¬metres of all-weather roads, rail lines, hydro power stations and transmission lines, it is building 11 industrial parks to name a few and met the MDGs. This a great stride towards structural transformation. Nonetheless, some arenas in particular that merit attention in this regard are to focus on excellence and not just quantity and cost such as the mobile revolution in China where they have overtaken iPhone’s hegemony. Secondly, it is about engaging more local human endowment in Ethiopia by using the vast number of graduates from universities and vocational schools. Thirdly, it is about greater capacity building of local competences of those graduates from universities and vocational schools. Finally, it is spreading threats and risks to economic portfolio.
Ethiopia - Financial & Telecom Liberalization: Potential Prospects & Hazards
While Ethiopia has recorded significant achievements in GDP growth, it faces predictable armour of trials with too few mechanism and wherewithal, while also wrestling with the perennial problem of sequencing policy reforms, all subject to doctrinal reins. Given the very slim boundaries for manoeuvre imposed by abject poverty, deficits and a complex interlace in its political fabric, getting the priorities right are the central issues to be addressed. Using comparative analyses with other African nations that have liberalised their economy, the research delves into the impact of liberalisation and the requisite preparatory basis of a reform pedestal on which the nation can be a winner in this game. The financial sector is underdeveloped in comparison to some neighbours where part of the population operates in a cashless society. Financial and telecom liberalization is an integral part of the overall economic liberalization, a set of policy measures designed to deregulate and transform the system with the view to achieving a liberalized market-oriented system within an appropriate regulatory framework. Findings of the research undergird eloquent testimony of complexity and uncertainty theories and func¬tioning economic models that Ethiopia can emulate, underpinning the fact that this can be complex, when reforms are subject to ideological therapy. Hence, managed restructuring of the public sector, establishing institutional capacity for policy analysis, formulation and coordination, regulatory capacity, advancing fiscal sustaina¬bility are gleaned as a panacea for change and transformation. Creating a merit based and metric civil service is a basic requirement to achieve higher ‘allocative’ and ‘productive’ efficiency, augmenting private sector share and improving public sector financial health. African countries have now deregulated their ICT industry and wooing investors to the economy, with significant impacts to show, driving rapid growth with the exception of state monopolies - Ethiopia, Eritrea and Djibouti.
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