Chapter IX
Economic Development
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Assistance And Investment
Nov. 02, 1964
.... 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
investiment 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 form 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....
Haile Selassie the First - November 2, 1964