Addis Ababa, April 8(ENA)--An official of the African Development Bank (ADB) says Ethiopia has become a significant beneficiary of the bank's loan over the past few years.

Merewa, a quarterly magazine, quoted Resident Representative of the Bank Group in Ethiopia, Dr. Elfaith Shaaeldin as saying that 72 projects and programs had been approved for Ethiopia since the commencement of the bank's lending operation.

He said the ADB-financed projects were in the areas of basic education development, primary health care, road upgrading projects, irrigation development schemes, and water supply and sanitation activities, among others.

Ethiopia has become the largest recipient of concessionary funds from ADB group due to the country's sound macro-economic policy and encouraging performances in good governance, poverty reduction, gender and environmental policies, he said.

Shaaeldin said the Bank would remain committed in further complementing the country's sustainable development and poverty reduction endeavors.

ADB is currently finalizing its Country Strategy Paper (CSP) for Ethiopia, he said, adding CSP is the principal programming document, which defines the bank Group's assistance to the country, ensure coordination with other development partners, and measure the development impact of its projects and programs.

Finalization of the strategy, which covers a three year's cycle, would make possible the utilization of substantial resources available for Ethiopia from the African Development Fund, according to Shaaeldin.

"The Bank Management is still firming up the exact allocation to Ethiopia especially with regard to project finance, the grant element, the technical assistance funds and budget support allocations," he indicated.

The total allocation, according to the Bank official, would exceed 250 million US Dollars for the period upto the end of 2004, which includes over 80 million US Dollars classified as policy-based loan.

Asked why the Bank's areas of intervention are confined to some sectors only, he said the selection in the reported areas was not difficult to justify. "Intervention in these sectors will certainly contribute to economic growth, poverty reduction and enhanced food security."

"We find the Government of Ethiopia an excellent partner and we hope to continue working together towards our common goal," he said.

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