Ethiopia, EU Forge Over 240 Mln Grant Agreement
ADDIS ABABA — In a landmark move to deepen ties and foster sustainable development, Ethiopia and the European Union (EU) have signed a substantial 240 Euros million grant agreement under the Annual Action Programme 2024.
This partnership, poised to fund six transformative development projects, further strengthens the two nations’ long-standing cooperation.
At the signing ceremony, Ethiopia’s Finance Minister Ahmed Shide highlighted the strategic importance of the grant, which includes 240 million Euros from the EU and an additional 10 million Euros from the German government, pushing the total commitment to 250 million Euros.
He described the agreement as a major milestone in the 50-year partnership between Ethiopia and the EU.
“We celebrated 50 years of partnership with the European Union this past February,” Minister Ahmed remarked.
“Throughout this time, our collaboration has proven invaluable in four key sectors: agriculture, infrastructure, education, and healthcare. This grant is a testament to our mutual commitment to advancing Ethiopia’s development agenda.”
The Minister also underscored the timing of the grant, as Ethiopia is navigating macroeconomic reforms and strengthening international alliances.
He explained that the grant will significantly contribute to improving the business climate to attract both domestic and foreign investment, transforming agriculture by fostering sustainable value chains, advancing digital transformation and enhancing livelihoods and promoting inclusive governance and peace-building efforts.
“The support we’re receiving is not only crucial for economic growth but also for reinforcing the foundations of a stable and prosperous future,” he added.
The EU Ambassador to Ethiopia Sofie From-Emmesberger emphasized the long-term impact of the Annual Action Programme 2024, which will run until 2027.
The programme prioritizes three essential areas for Ethiopia’s future namely, environmental sustainability and climate action (the Green Deal), human development (focused on health, education, and social inclusion) and governance and peace-building.
Ambassador Sofie stressed that the 240 million Euros grant would support Ethiopia’s green transition, strengthen essential services, and foster inclusive governance.
“The EU’s commitment to Ethiopia remains unwavering,” the Ambassador stated.
“In 2023, the EU became Ethiopia’s second-largest trading partner, and we are proud to serve as the largest destination for Ethiopian exports. Our continued support will help Ethiopia achieve sustainable development, peace, and prosperity”
The EU’s support is a vital catalyst for Ethiopia’s ongoing journey toward stability and economic growth. As both regions work together to address shared challenges, the 240 million Euros grant sets the stage for a future of mutual progress.
Through this partnership, the EU and Ethiopia are reaffirming their shared vision of sustainable development, lasting peace, and collective prosperity.
Crédito: Link de origem