April 17, 2026
Borkena
Toronto – Ben Black, Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), reaffirms interest in “supporting high-impact projects” in Ethiopia.
Infrastructure, mining and transport are identified as priority areas, according to a news release from the Ministry of Finance.
Ahmed Shide, Ethiopia’s Finance Minister who is currently in Washington, held what the ministry described as a “high-level meeting” with DFC CEO, Ben Black. The meeting took place on the sidelines of the 2026 Spring Meetings of the World Bank Group and the International Monetary Fund.
in March 2026. Ethiopia reported over $5.9 billion earning from gold export during this fiscal year signaling remarkable growth in the sector. It has also embarked on a $10 billion mega airport project. Both areas seem to be of interest to the United States.
About two weeks ago, Ahmed Shide led a high-level delegation, including the National Bank Governor, to China where he held extensive meetings with leaders in the banking sector including Export-Import (Exim) Bank of China. The aim was to secure finance for the mega airport project and also negotiate debt restructuring. Quantitative reports of the outcome of the meeting were missing. The ministry stated that “significant progress” was made.
The situation might have presented the United States with an economic opportunity. The ministry said the discussion between Ahmed Shide and Ben Black “focused on strengthening the strategic partnership between Ethiopia and DFC, with particular emphasis on expanding cooperation in priority sectors, including transport and mining.”
The Ministry did not disclose details of the discussion in how the United States is “supporting” projects except stating “The DFC reaffirmed its interest in scaling up engagement in Ethiopia by supporting high-impact projects, particularly in infrastructure and other strategic sectors.”
In a speech at the Atlantic Council’s “Investing in Africa Forum” , Ben lamented that ““Our geopolitical competitors have invested heavily across the continent[Africa]. But too often, these projects have relied on opaque financing, tied procurement, and infrastructure designed primarily to serve external interests. In many cases, the outcome has been high and coercive debt burdens, and limited benefits to the workers and local economies. This is not a good deal for any nation…”
Regarding U.S. investment in the continent, he said “We are investing in our partner countries’ economic futures and their people. Africa is a critical market of the future, and a vital partner in this effort.”
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