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Selected Speeches Of His Imperial Majesty Haile Selassie I



ASSISTANCE AND INVESTMENT


.... Experience has proved that the vast development programme upon which Ethiopia has embarked cannot be wholly financed out of our own resources. To meet the gap between the targets established and the means available locally, we have had recourse to international lending institutions and to assistance from friendly and wealthier nations. For this aid, some in the form of grants, some in the form of loans, the Ethiopian Government and people are grateful, and it would be ungracious were we to fail to express our appreciation for the assistance we have received.

We have always recognized, however, that private capital investment can make a significant contribution to the goals set in the Second Five-Year Plan. In order to stimulate such investment, We promulgated, a short time ago, a law intended to stimulate increased private capital investment in Ethiopia. This law, which Parliament will consider in the weeks ahead, establishes procedures to evaluate investment proposals, and guarantees to the deserving investor the benefits and assurances which venture capital seeks as a condition to investment. In like manner, the banking laws promulgated several months ago after their approval by the Chamber of Deputies and the Senate not only modernize Ethiopia’s banking system, but furnish the channel for the investment of additional funds in the growth of Ethiopia’s economy....

Foreign Assistance

.... Only two weeks ago Ethiopia was honoured by the visit of the President of the Federal Republic of Germany, Dr. Heinrich Lubke. During the talks which We held with the head of this friendly nation, We were assured of the desire of the West German Government to continue to participate in Ethiopia’s economic development along the lines laid down in the Second Five-Year Plan, and We anticipate the early implementation of agreements reached covering additional grants and credit by the Federal Republic to Ethiopia. This assistance, together with the generous aid which Ethiopia continues to receive from other friendly nations and from international organizations, will do much to assure the implementation of the programmes of economic development which the Five-Year Plan envisages....

November 2, 1964.


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Electronic edition created and published online by members of the
Emperor Haile Sellassie First Theocracy Reign
Order of the Nyahbinghi

June 14, 2017