The Ministry of Finance and Economic Cooperation of the Federal Democratic Republic of Ethiopia (MOFEC), formerly known as the Ministry of Finance and Economic Development, is a national entity located in Ethiopia.
The Ministry's mandate is to oversee the planning and implementation of development programmes, including those that address climate change.
Addis Ababa, the capital of Ethiopia, where the Ministry of Finance is located.
Key Activities of MOFEC
Its activities in climate-resilient development pathways, valued at over US$ 400 million, include mitigation and adaptation projects and programmes in a variety of sectors, particularly agriculture, water, energy, forestry, buildings, industries and transport.
Some of its key activities in these sectors include natural resources management through watershed management, afforestation and reforestation, energy generation and access, and low-carbon transport systems.
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MOFEC houses and has created, jointly with another public sector entity focused on the environment, a designated special purpose facility that will channel its climate investments into the country.
Accreditation to the GCF is an opportunity for MOFEC to continue developing a climate-resilient economy through the delivery of projects and programmes by working with national and subnational actors.
Ethiopia - the Great Economic Hope of Africa
Leadership at the Ministry of Finance
Several key figures hold significant roles within Ethiopia's Ministry of Finance, each contributing unique expertise and experience.
Ahmed Shide - Minister of Finance
Ahmed Shide has been the Minister of Finance of Ethiopia since October 2018.
Previously Mr. Shide served as Minister of Transport as well as Minister of Government Communication Affairs of Ethiopia.
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During his service as a State Minister, he championed the economic reform endeavors of the Government and contributed to the significant development achievements the country recorded over the past couple of decades.
Moreover, he also dedicatedly served the Government of Ethiopia at various capacities including at the regional state level.
Mr. Shide holds Masters of Arts in Participation, Development and Social Change from the Institute of Development Studies, University of Sussex, United Kingdom, Post-Graduate Diploma in Managing Rural Resources and Resource Conflicts from the Institute of Social Studies, The Hague, the Netherlands, and MBA from Greenwich University, London, United Kingdom.
Yasmin Wohabrebbi - State Minister of Finance
Ms. Yasmin Wohabrebbi is a State Minister of Finance at Ethiopia’s Ministry of Finance, with a portfolio of international economic cooperation.
In this role, she leads the Ministry’s external economic cooperation policy and operation, as well as effective mobilization and management of external resources.
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She is a seasoned resource mobilization and partnership management professional with over twelve years of experience in the field.
Having built strong relationships with key donors and international organizations, Ms. Yasmin has helped to mobilize significant resources from several multilateral, bilateral and philanthropic organizations for Ethiopia’s development.
Her extensive knowledge of government policies and strategies, as well as cooperation requirements and procedures resulted in successful outcomes in development financing.
Ms. Yasmin has played an indispensable role in the design of many development projects across all sectors and led negotiations with development partners to secure loans and grants.
Prior to assuming the post of State Minister, Ms Yasmin served the Ministry of Finance in different capacity including Director of International Financial Institution Directorate in the Ministry for more than seven years.
While at the ministry, she has taken progressive responsibilities in resource mobilization, allocation and management from international financial institutions including the World Bank; led development partner coordination platforms to strengthen collaboration; and oversaw the country’s credit rating to enhance creditworthiness and attract investment.
Ethiopia's commitment to Sustainable Development Goals.
H.E. Dr. Eyob Tekalgn Tolina - State Minister of Finance
H.E. Dr. Eyob Tekalgn Tolina is currently a State Minister of Ethiopia’s Ministry of Finance.
Previously, he was Minister in charge of Ethiopia's National Planning Commission.
Mr. Tolina has managed the Ethiopian Public Private Consultative Forum(EPPCF), the major platform for policy deliberation between the government and the private sector in Ethiopia.
Mr. Tolina has also worked for a number of regional and international organizations including UNECA, COMESA, UNCTAD, the World Bank Group and the International Finance Corporation (IFC).
These experiences have given Mr. Tolina strong skills in team building, effective advocacy, private equity investing, strategic planning, portfolio management, public relations, private sector development, and policy analysis.
Diverse Background of Dr. Tolina
Mr. Tolina’s diverse background has spanned a variety of roles such as Minister Counselor at the Embassy of Ethiopia in Washington D.C., advisor to the Ethiopian governors of the IMF and World Bank, government and public affairs consultant to Fortune 500 multinational Dow Chemical, and his work for different government agencies including Ministry of Foreign Affairs and Ministry of Trade.
Summary of Key Personnel and Responsibilities:
| Name | Title | Responsibilities |
|---|---|---|
| Ahmed Shide | Minister of Finance | Overall leadership, economic reform |
| Yasmin Wohabrebbi | State Minister of Finance | International economic cooperation, resource mobilization |
| Eyob Tekalgn Tolina | State Minister of Finance | National planning, public-private partnerships |
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