EU Grants Ethiopia a 240 Euro to Support Key Sectors


EU Grants Ethiopia a 240 Euro to Support Key Sectors

Financial Assistance Targeted at Agribusiness, Digital Expansion, and Democratic Institutions The European Union (EU) has agreed to provide Ethiopia with a grant of €240 million to support development initiatives across key sectors. This financial assistance will primarily bolster projects in agribusiness, enhance digital competencies, and strengthen democratic institutions. Furthermore, the agreement will support public administration and facilitate efforts to promote stability and recovery in regions emerging from conflicts, including the Tigray Regional State. On Thursday, April 3, 2025, the Ministry of Finance announced the details of the grant agreement. Finance Minister Ahmed Shide and the EU Ambassador to Ethiopia, Sofie From-Emmesberger, signed the agreement. Ahmed Shide stated that the financial package would not only encourage private sector investment but also aid in the overhaul of tax and customs frameworks. He emphasised that this assistance aims to enhance agribusiness, health, and education services throughout the nation. Emmesberger said that, asserting that the grant reflects a mutual commitment to fostering long-term progress in Ethiopia.


Radar

Parliament Passes Animal Health and Welfare Law :Tougher Penalties

Parliament has unanimously approved the Animal Health and Welfare Proclamation (No. 1376/2017) during its 27th regular session on Tuesday. The law introduces stricter penalties for offences including adulterating milk, selling uncertified dairy products, and handling diseased animals. Individuals who sell uninspected or untreated milk and milk products now face up to five years of rigorous imprisonment and fines of up to 50,000 birr. The same punishment applies to those who export animals or...


Radar

City Council Unanimously Approves 11.5B Br Budget Increase

The Addis Abeba City Council has unanimously approved an additional budget of over 11.5 billion Br to support ongoing development projects across the capital. The decision was made during the Council's third regular session of its fourth year in office. The supplementary budget adds to the 230.4 billion Br initially allocated for the 2024/25 fiscal year. According to Abdulkadir Redwan, head of the City's Finance Bureau, the funds will bolster the implementation of infrastructure and service d...


Radar

Ethiopias Capital Market Sets Sights on Talent Strategy

A new strategy to strengthen the human capital foundation of Ethiopia's emerging capital market is taking shape. Led by FSD Ethiopia in partnership with iCapital Africa Institute and the Nairobi Securities Exchange, the initiative is focused on building the skills, expertise, and institutional capacity needed to support the Ethiopian Capital Market Authority (ECMA). The second round of consultations took place on April 23 at Best Western Hotel, drawing key stakeholders including ECMA Director...