Antony Sguazzin
The African Development Bank, the continent’s biggest multilateral lender, said it’s withdrawing its international staff from Ethiopia immediately after two of its employees were arrested, detained and assaulted in the country on Oct. 31.
The two staff members were released after Akinwumi Adesina, the bank’s president, contacted Ethiopian Prime Minister Abiy Ahmed. The bank made an official complaint on Nov. 6, demanding an investigation. Finance Ministry officials didn’t immediately respond to a request for comment.
“The situation is still not yet resolved in a satisfactory manner,” Adesina said in a statement on Wednesday, adding that a delegation of senior bank staff had traveled to the country. “The Ethiopian government has, to date, not shared with the bank any report, or details of investigations into the incident,” he said, adding that its international staff do not feel safe in the country.
The lender has 10 employees in Ethiopia including five foreign staff, according to bank executives who asked not to be identified because of the sensitivity of the matter.
The souring of relations with the crucial lender comes at time when Ethiopia’s economy is already struggling. The country defaulted on its international debt last week and last month an auction for a third mobile license failed to attract any bidders. The only internationally owned financial-services company said it was closing down after the central bank changed foreign-exchange rules.
The AfDB’s local staff will remain in Ethiopia, the bank said. It’s supporting 22 projects in Ethiopia with lending of $1.24 billion it said.
“The incident has also raised concerns among the bank’s shareholders, other multilateral development banks, international financial institutions, the broader diplomatic community, and other stakeholders,” Adesina said.
“While the bank appreciates the excellent relations it has with Ethiopia until this egregious incident, its continued operations and future presence in the country could be negatively affected if the incident is not fully resolved.”
–With assistance from Simon Marks.
Source: Bloomberrg
