Oromia Finance and Economic Development Bureau

The Oromia Finance and Economic Development Bureau (OFEDB) is the principal government body responsible for planning, managing, and monitoring the financial and economic development activities within the Oromia Regional State of Ethiopia. It plays a crucial role in shaping the region’s economic landscape and improving the livelihoods of its citizens.

Key Responsibilities

The OFEDB’s core functions encompass a wide range of activities, including:

• Economic Planning and Policy Formulation: The bureau designs and implements regional economic development plans, strategies, and policies aligned with national objectives and tailored to Oromia’s specific context. This involves identifying key growth sectors, analyzing economic trends, and formulating strategies to promote sustainable development.
• Budget Management and Financial Control: OFEDB is responsible for preparing, executing, and monitoring the regional budget. This includes allocating resources to various sectors, ensuring efficient spending, and maintaining fiscal discipline. The bureau also oversees revenue collection and management, working to enhance the region’s financial capacity.
• Investment Promotion and Facilitation: Attracting both domestic and foreign investment is a priority. OFEDB actively promotes investment opportunities in Oromia, provides support to investors, and works to create a favorable investment climate. This includes streamlining regulatory processes and addressing potential barriers to investment.
• Monitoring and Evaluation: OFEDB monitors the implementation of development projects and programs across the region. This involves tracking progress, evaluating impact, and identifying areas for improvement. The bureau also conducts regular economic assessments to inform policy decisions and ensure that development efforts are aligned with regional priorities.
• Public Financial Management Reform: The bureau is committed to improving public financial management practices within Oromia. This includes strengthening internal controls, enhancing transparency and accountability, and promoting the use of modern financial management systems.
• Capacity Building: Recognizing the importance of skilled personnel, OFEDB invests in capacity building initiatives for government officials and other stakeholders involved in economic development. This includes training programs, workshops, and study tours aimed at enhancing their knowledge and skills.

Strategic Priorities

The OFEDB’s strategic priorities are often centered around:

• Promoting agricultural development and ensuring food security.
• Developing the industrial sector and creating employment opportunities.
• Improving infrastructure, including roads, electricity, and water supply.
• Investing in education and healthcare to enhance human capital.
• Promoting sustainable natural resource management.

Through its various initiatives and programs, the Oromia Finance and Economic Development Bureau plays a critical role in driving economic growth, reducing poverty, and improving the quality of life for the people of Oromia.