A public-private partnership agreements have been signed between seven developers and Ministry of Finance today.
The agreements include four affordable housing, two tourism destination, and one health project.
During the signing of the agreements, Finance Minister Ahmed Shide said the public-private partnership agreements are part of the government’s initiative as new financing development projects.
The private developers that inked the agreement with the ministry were Ice Home Development and Construction PLC, Ovid Chaka Housing Development PLC, Ovid Kings Tower Housing Development PLC, and the Ethiopian Construction Works Corporation.
Denbi Lake PLC (MIDROC Ethiopia Group), Awash Falls Resort PLC (Boston Partners), and Cerbalancet, ICL and Pioneer (Consortia) Integrated Diagnostic Service Center Project were also the other signatories.
Once the PPP projects are completed and operational, they are expected to have a significant contribution to the nation’s economic and social growth, it was indicated.
In relation to this, Prime Minister Abiy Ahmed told the House of People’s Representatives today that “To address the housing shortage, we’ve introduced public, private, and public-private partnerships — an approach not used before.”
In the past five years, around one million homes have been built with over 265,000 more under construction as the country has also launched rural corridor projects to provide quality housing in rural areas.
Efforts to expand housing access in both urban and rural areas will continue, according to the Office of the Prime Minister.
Recall that Ethiopia has enacted a new Proclamation No. 1076/2018 facilitating Public-Private Partnership (PPP), recognizing that the private sector is essential to support the country’s economic growth and improve the quality of public services, particularly in infrastructure.
Source ENA
