EU Pledges €130m for Job Creation, Manufacturing

January 26 , 2019


EU Pledges €130m for Job Creation, Manufacturing

Ethiopia signed a financing agreement for 130 million euros with the European Union Commission for investments in job creation, energy and manufacturing. The agreement was signed between Neven Mimica, commissioner for International Cooperation & Development, and Foreign Affairs Minister Workneh Gebeyehu (PhD). Job creation will take up 50 million euros, while 35 million euros will be used for sustainable energy and the rest for the establishment of agro-industrial parks. The EU’s development cooperation portfolio in Ethiopia is one of the largest in Africa and the world. For the period between 2014-2020, 715 million euros worth of financing agreements were signed. Ethiopia is also one of the beneficiaries of the EU Emergency Trust Fund, a fund established to address the causes of migration and irregular displacement. The EU is providing humanitarian assistance to refugees and internally displaced people in the country, which has amounted to 381 million euros for the four years since 2014.


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