African Development Bank President, Akinwumi Adesina met with Eritrean President Isaias Afwerki in Asmara to strengthen their partnership to support the country’s growth. President Isaias says Eritrea looks to the AfDB as a partner of choice. The African Development Bank Group and Eritrea on Friday strengthened their partnership to support the country’s growth and place […]
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BY AFRICAN DEVELOPMENT BANK Eritrea’s economy slowed more sharply than expected due to dwindling economic activities and poor weather conditions that adversely affected agricultural productivity. Real GDP growth declined to an estimated 3.4% in 2017, from 3.8% in 2016, and is projected to remain between 3.7% and 3.8% over the medium term.
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AfDB supports inclusive growth through agriculture and infrastructure development BY AfDB The Board of Directors of the African Development Bank Group (AfDB) has approved the institution’s intervention strategy in Eritrea for 2017-2019. The Interim Country Strategy Paper (I-CSP) supports the Government’s National Development Plan (2014-2018) for the country’s economic and social development through agricultural transformation.
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By African Economic Outlook, In the 22 years since independence in 1993, the Government of the State of Eritrea (GoSE) has prioritized investments in infrastructure (communication networks, energy, and water facilities); agriculture (mainly for food security); marine resources; social and other services; and manufacturing. In 2016, GoSE priorities are human-resource development; investment in machinery and […]
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By Nyende Magidu, ERITREA is aiming at creating a modern, private sector-led economy (Macro Policy 1994; National Indicative Development Plan 2014-2018). Attaining this objective is, however, compromised by an inadequately enabling investment and business environment, United Nations sanctions, and overall weak macroeconomic conditions. Real GDP growth is projected to increase from 2.0% in 2014 to 2.1% in 2015, double the […]
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By TesfaNews, THE African Development Bank (AfDB) and Eritrea today signed a US $41.5 million funding agreement to finance two major government projects on skill development, drought resilience and sustainable livelihood programs. The Agreement was signed in Asmara by the Minister of Finance, Mr. Berhane Habtemariam, and AfDB Regional Director, Mr. Gabriel Negatu.
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By East Africa Quarterly Bulletin, THE East Africa Quarterly Bulletin, which monitors socio-economic developments across the continent, has been released by country economists and country program officers of the African Development Bank Group’s (AfDB) East Africa Regional Resource Center (EARC), Nairobi, Kenya. According to the report, Economic growth in Eritrea improved during the third quarter […]
Continue ReadingBy AfDB, THE Board of Directors of the African Development Bank Group on Wednesday, October 15 approved the Interim Country Strategy Paper (I-CSP) for Eritrea. The I-CSP covers the period 2014 – 2016 and aims to assist the Government of Eritrea in addressing its binding development challenges in a coordinated and consultative manner. The strategy […]
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