Ethiopia has shared its experience on integrated national financing framework on the sidelines of the first session of the preparatory committee for the Fourth International Conference on Financing for Development (FfD) underway in Addis Ababa.
Finance State Minister Semereta Sewasew shared the major aspects of Ethiopia’s Sustainable Financing Strategy (ESFS) at the side event titled ‘Making Finance Work for People and Planet through Integrated National Financing Frameworks’.
According to Ministry of Finance, she noted that the ESFS is developed to play a pivotal role in addressing the financial needs of SDGs and national priorities.
The strategy identifies major focus areas to diversify the financial sources of the country, and aims at establishing strong and resilient funding mechanisms that will reinforce the country’s future growth and development.
Semereta also highlighted priority areas of the ESFS that will be implemented to strengthen development financing, which among others include accelerating
digital tax modernization to boost revenue collection efficiency and combat tax evasion, shifting from traditional public-centered and debt-focused infrastructure investments to innovative and private sector financing instruments, integrating innovative financing mechanisms and instruments into sector investment plans, accelerating use of green finance instruments and ramping up the national public-private partnerships(PPPs).
She pointed out that the ESFS aims to address structural constraints by promoting resilience and aligning financing flows with long-term sustainability goals.
Source: Ethiopian News Agency