Ethiopia has joined other countries across the continent to celebrate the African Development Bank's 60th anniversary with a colourful and instructive trip down 'Memory Lane'.

On 29 November 2024, an eventful day of activities, organised by the Bank's country office and the government of Ethiopia, was held in the capital, Addis Ababa under the theme "60 Years of Making a Difference".

Guests , including senior government officials, ministers, members of the diplomatic corps, development partners, Bank staff, academics and others -- filled the room to watch a documentary on the Bank's projects and overall impact of decades of activities in Ethiopia.

During interludes. the audience was treated to captivating traditional dances and singing, offering a vibrant display of the richness of Ethiopia's and Africa's cultural heritage.

Amid claps and cheers, Dr Leandre Bassole, the Bank's Deputy Director General for East Africa, who is also Country Manager for Ethiopia, rose to present his welcoming remarks.

"From its inception, the Bank has been a cornerstone for financing critical infrastructure, fostering regional integration, and supporting initiatives that uplift millions from poverty. Our collective journey has been defined by a solid commitment, collaboration, and innovation," he said.

"We have worked hand in hand to drive the nation's development agenda. Together, we have embarked on a journey of transformation, focusing on strategic priorities and delivering tangible results for the Ethiopian people," he added.

Bassole mentioned sectors where the Bank has intervened. For example transport, where investments exceeding $2.1 billion have helped construct over 1,600 km of paved roads, including flagship projects like the Jimma-Mizan, Mombasa-Nairobi-Addis Ababa, Bedele-Metu, and Modjo-Hawassa roads, all of which have contributed to Ethiopia's vision of becoming a regional connectivity hub.

"These initiatives have tripled road density from 44 km/1,000 km² in 2010 to 136 km/1,000 km² in 2021, reducing travel times and enhancing trade and mobility," he declared.

Similar large investments have gone into water and sanitation projects, and energy and agriculture sectors - a fact underlined by several ministers.

Ethiopia's State Minister of Finance for Economic Cooperation, Semereta Sewasew, appreciated the Bank's immense support, saying it "has also fostered an environment of shared knowledge, expertise, and commitment to the common goal of achieving sustainable development in Ethiopia."

She pointed out that from 1975, when the Bank first began operations in Ethiopia, it has financed 213 projects including 39 in transportation, 28 in energy; 66 in agriculture; and some five projects in job creation.

"This partnership has enabled Ethiopia to achieve tangible and lasting impacts, particularly in the agriculture sector where we have seen improved food security, increased productivity, and greater resilience to climate change. Similarly, in the infrastructure and energy sectors, the collaboration has led to the building of roads, the expansion of access to electricity, and improvements in essential public services," she said.

Her sentiments were backed by Asfaw Dingamo, State Minister of the Ministry of Water and Energy and Dr Fikru Regassa, State Minister for Ministry of Agriculture, who elaborated on the Bank's support to projects in their respective sectors.

More accolades about the Bank's work poured in. Speaking on behalf of the United Nations Economic Commission for Africa (UNECA) chief, Claver Gatete, the Director of Innovation, Connectivity and Infrastructure, Dr Robert Lisenge, talked of the Bank's collaboration with UNECA in regional integration, which he described as critical to Africa achieving sustainable development.

In conclusion, Bassole declared "as we commemorate six decades of making a difference, let us renew our collective resolve to achieve Africa's development ambitions. The African Development Bank will remain a partner, a catalyst, and a champion of transformative change for Ethiopia and the entire continent."

Meanwhile,  Ethiopian Railways Corporation has signed Memorandum of Understanding (MoU) with COIPA Capital, excelling in identifying high-yield products and services, to advance strategic railway and logistics projects.

The agreement signed today by Deputy CEO of Ethiopian Railways Corporation (ERC), Getu Gizaw and COIPA Capital's CEO, Vito Favorito Sciammarella, stated as a pivotal step towards strengthening Ethiopia's logistics, railway and industrial capabilities.

Addressing the signing ceremony, deputy CEO of ERC Getu said this partnership with COIPA capital represents a strategic millstone to modernize Ethiopia's infrastructure.

"By integrating global expertise, we aim to create world-class logistics and railway systems that drive economic growth."

ERC and CIOPA Capital will work together to advance critical initiatives including port logistics projects, he pointed out.

The Deputy CEO added that the two institutions will also execute more projects including the building of ERC Headquarters for Mixed-use Commercial complex and establishing an infrastructure construction and consultancy unit.

Each of these projects reflects our commitment fostering economic growth and strengthening regional integration and ensuring suitable development, he affirmed.

"By combining ERC's strategic vision and COIPA Capital's expertise in investment and project execution, we are laying a groundwork for long-term success."

COIPA Capital's CEO, Vito Favorito Sciammarella noted for his part that the project will be instrumental not only for Ethiopia but also for the entire central and East Africa region.

"We are honored to partner with ERC in this transformative initiative. Our commitment is to bring the best of European expertise and financing solutions to support Ethiopia's ambitious infrastructure development goals."

The Memorandum of Understanding is also targeted to advance critical infrastructure projects aimed at bolstering Ethiopia's economic growth and connectivity.

Under this MoU, COIPA Capital will provide technical, financial and advisory support leveraging its extensive experience in structuring and financing large-scale industrial projects, it was indicated.