EU, Ethiopia Sign €130 Million Financing Agreement

EU-Ethiopia-Financing-AgreementJanuary 24, 2019 ( - The European Union (EU) and Ethiopia signed a €130 million financing agreement to promote sustainable economic growth and job creation in the the country.

The agreement was signed between Commissioner for International Cooperation and Development, Neven Mimica, and Ethiopian Minister of Foreign Affairs Dr. Workneh Gebeyehu.

The agreement was made during a visit to the area by Prime Minister Abiy Ahmed and his entourage.

While signing the agreement, Commissioner Mimica said, “Today’s cooperation package worth €130 million is proof of our support to Ethiopia’s economic development and job creation, which will help build new opportunities for its people. With this additional funds we are also supporting the better access to sustainable energy and the development of the agro-industrial sector in the country”.

EU President Juncker on his part said “the partnership between Ethiopia and the EU is particularly strong and the meeting with Prime Minister Abiy today allowed us to exchange on how to further deepen it. The EU supports the ambitious reform agenda in Ethiopia and is committed to step up its support to the country”.

The financing agreement signed is mean to support job creation (€50 million), sustainable energy (€35 million) and the establishment of agro-industrial parks in Ethiopia (€45 million), according to a press release issued by the European Commission today.

The Ethiopian Prime Minister has been touring various European capitals along his trip to Davos, Switzerland, where he attended the World Economic Forum.



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