Ethiopia, EU Forge Over 240 Mln Grant Agreement

ADDIS ABABA — Ethiopia and the European Union (EU) have signed a major grant agreement. The agreement is worth 240 million Euros under the Annual Action Programme 2024.

This partnership will fund six important development projects. It strengthens the long-standing cooperation between Ethiopia and the EU.

At the signing ceremony, Finance Minister Ahmed Shide emphasized the grant's significance. It includes 240 million Euros from the EU and an extra 10 million Euros from Germany. This brings the total commitment to 250 million Euros.

Minister Ahmed noted that they celebrated 50 years of partnership with the EU in February. He stated that their collaboration has been vital in agriculture, infrastructure, education, and healthcare. This grant shows their shared commitment to Ethiopia's development agenda.

The Minister highlighted the timing of this grant as crucial. Ethiopia is undergoing macroeconomic reforms and building international alliances. He explained that it will improve the business climate for domestic and foreign investment. The grant aims to transform agriculture through sustainable value chains and enhance digital transformation. It also promotes livelihoods, inclusive governance, and peace-building efforts.