Ethiopia likely to achieve MDGs - World Bank
 Briefing on the new ten years strategy of the World Bank for Africa at the video conference she made with African journalists on March 3, 2011, the Vice President of the World Bank for Africa Region, Obiageli Ezekwesili, noted that the four countries are on the right track of meeting the MDGs. The strategic document she presented has also stated that progress on the MDGs has been sufficiently rapid that many countries such as Cape Verde, Malawi, Ghana and Ethiopia are likely to meet most of the goals, if not by 2015 then soon thereafter. Meanwhile the document also stressed that African countries, including those who are likely to meet MDGs, still continue to face persistent, long-term development challenges. Undiversified production structure, low human capital, weak governance, state fragility women’s empowerment, youth employment and climate change are among the major challenges facing the continent, according to the bank. Undiversified production structure, low human capital, weak governance, state fragility women’s empowerment, youth employment and climate change are among the major challenges facing the continent, according to the bank. To address these challenges the bank has now designed its ten years strategy for the continent on two pillars – Competitiveness & Employment and Vulnerability & Resilience. "Addressing the challenges within country strategies will be the catalyst needed to realize the vision," according to Obiageli Ezekwesili. The first pillar, competitiveness and employment, represents the way to harness private sector growth for sustainable poverty reduction and ultimately wealth creation. "We use a broad definition of competitiveness which covers all traded goods and services sectors such as light manufacturing, agribusiness, mining ICT and Tourism," she said. It also includes pillars of competitiveness agriculture, transportation, utilities construction and retail. Vulnerability and Resilience pillar of the strategy on the other hand is crafted to address shocks that are striking African people, such as food shortages, conflict, droughts, floods, climate change macroeconomic crisis and epidemics like HIV/AIDS and malaria. (WIC) |
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