The National Bank of Ethiopia (NBE) and the People’s Bank of China (PBOC) have agreed to deepen strategic financial cooperation to boost trade, investment, and digital finance.
During a meeting in Beijing on April 2, NBE Governor H.E. Eyob Tekalign and PBOC Governor H.E. Pan Gongsheng discussed establishing bilateral swap lines and trade financing facilities to facilitate smoother commercial flows. Governor Eyob highlighted Ethiopia’s potential to increase its Chinese yuan (RMB) reserves, leveraging revenues from key sectors including Ethiopian Airlines and exports.
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The two sides also explored modernizing cross-border payments, integrating national payment systems, and expanding the use of China UnionPay in Ethiopia. Both central banks discussed advancing Ethiopia’s digital finance ecosystem, including the development of Central Bank Digital Currencies (CBDCs), with technical support from China.
Governor Pan praised Ethiopia’s macroeconomic reforms and debt sustainability efforts, and both leaders emphasized a long-term partnership aimed at supporting trade and investment between the two countries.
