The Asian Infrastructure Investment Bank (AIIB) and Ethiopia have pledged to strengthen their collaboration to fast-track financing for transformational infrastructure projects in the East African nation.

The commitment was made during a meeting between Ethiopian Minister of Finance Ahmed Shide and AIIB Vice President Ajay Bhushan Pandey on the sidelines of the World Bank/IMF Annual Meetings.

Minister Ahmed emphasized the critical need for expanded concessional financing to help developing countries meet their infrastructure development and climate action goals. Drawing on his experience as a former Vice Chair of the AIIB Board of Governors, he praised the Bank’s success in mobilizing resources for crucial infrastructure over the past decade.

Highlighting key national priorities, the Minister updated the AIIB on preparatory discussions for the nation's new International Airport mega project and stressed the importance of the bank's support for other major initiatives, particularly in the energy sector.

Vice President Pandey, in turn, commended Ethiopia's ongoing economic reforms and commitment to infrastructure. He reaffirmed AIIB’s commitment to supporting the country’s drive toward sustainable and inclusive economic growth. Both sides agreed to swiftly mobilize AIIB financing for projects enhancing transportation, energy, and connectivity.