Roles and Responsibilities of the International Financial Institutions Co-operation Directorate
The International Financial Institutions and Cooperation Directorate deals the overall cooperation with traditional and emerging international financial institutions (IFIs) in view to securing the necessary external financing and assistance to support implementation of development projects/programs. It also follows-up the IFIs supported ongoing projects/programs implementation progress so as to enhance value for money and speed up the disbursement flow from the IFIs. Furthermore, it coordinates the country's rating process by facilitating the accessibility of the necessary information required by the rating agencies. The Directorate is also the Focal Point for the coordination of investor relations program that responds to the informational needs of these diverse groups. The IFIs cooperation Directorate comprises of three teams, namely; Infrastructural & Capacity Building Projects Coordination Team, Basic Services and Job Creation Projects Coordination Team and Rating Agencies & Institutional Investors Coordination Team. The key roles and responsibilities of the Directorate includes,
- Carries out facilitation of regular consultations, sectoral selection and cooperation in the preparation of framework agreements with the respective IFI, based on the country’s development plan.
- Performs the activities relating to evaluation, prioritization and presentation of anticipated projects for financing to higher officials. Then, if approved, the Directorate will present the financing request to the development partner and coordinates the activities in the project preparation and appraisal stages to be finalize the process as per its schedule.
- Leads the government delegation on behalf of the ministry to negotiate loan/ grant agreements between the FDRE and the IFIs. Submit minutes from negotiation meeting to officials for review and clearance of the offer.
- Follows up and facilitates the loan/ grant agreement signing so as to complete the preparation stage as per the schedule. Then, it presents the loan agreement to the Council of Ministers and House of People's Represenatatives to enter in to full implementation after effective date of the project.
- Closely follows participation of Ethiopia in the IFIs working groups where the country holds a membership status. Prepares documents on issues relating to the activities of IFIs and takes part in these meetings.
- Tracks the implementation of IFIs supported projects. After identifying projects which are potentially at risk, prepares a memo to the minister and launch a meeting with the implementing entity officials in identifying problems and measures to the project success. Then, supervises the execution of corrective measures so as to get the project back on track.
- Coordinates development partner’s mission, both discussions and field visits in Ethiopia and sign Aide-Memoire as part of a memorandum setting then. Follows up the implementation of agreed actions.
- Prepares positions on issues with regard to project implementation related inquiries such as budget reallocation, project extension, change of signatories, etc.
- Coordinates country case studies conducted by IFIs by ensuring that all concerned government agencies are involved before publication.
- Coordinates the working cooperation with the rating agencies. Facilitates information gathering from different government entities required by the rating agencies. Furthermore, the Directorate, on every six months, organizes meetings with the government bodies and DPs (based in Addis) to help out rating agencies’ wind up the assessment of the country.
- Circulate the assessment of the draft report to concerned bodies for a review and feedback. Irrespective of the regular updates, briefs on the recent situations when the rating agencies analysts need a clarification as deemed necessary.
- Coordinates the cooperation with the international institutional investors relations. Coordinates the dissemination of keys information on MoFEC’s website to enable constant information flow with respect to prevailing country situation by providing reliable data and creating a customized hyperlink from important government body’s tabs while pursuing prudent investor relations.
- Coordinates in clarifying institutional investors regarding the country’s prevailing situation related issues. Organizes and leads a regular visiting program that engages institutional investors in an effective way.
- Coordinates and participates with the delegation of the Government in meetings with the institutional investors.
- Closely follow the financing options in the international debt market. And when the government decides to enter in to the international bond market, it coordinates bond market issuance process.