European Union, Finance Ministry Launch a 650m Grant Program

Oct 7 , 2023

A three-year program on governance, peacebuilding, green growth and inclusive human development was launched between Ethiopia and the European Union (EU) last week. With a 650 million euro grant, the Multiannual Indicative Programme (MIP) focuses on the selected areas that were deemed as priorities by officials. Ahmed Shide, minister of Finance and Jutta Urpilainen, commissioner for EU International Partnerships, have signed the agreement at Hyatt Regency located on Africa Avenue (Bole Road). The EU has suspended budgetary support to the federal government following the war in Tigray Regional State. The agreement comes at the backside of the Pretoria Peace deal, which was signed in November. Ahmed said the grant will support efforts towards peace, macro-economic stability, political reforms, recovery and reconstruction while pushing for multi-donor pool implementation arrangements and resumption of budget support. "A new chapter and a novel platform that spurs our strategic alliance," he underscored. The grant is indicated as an opportunity to refresh the partnership between Ethiopia and the EU. Jutta said while political and policy dialogue with the government is pending, the agreement shows their willingness to support Ethiopia in efforts to emerge from the conflict. "We recognise that there is a long way to go," stated the Commissioner.


Premier Pushes Domestic Drug Production

A six-day domestic pharmaceutical production and innovation expo was inaugurated by Prime Minister Abiy Ahmed (PhD) last week. More than 110 local pharmaceutical manufacturers participated at the Millennium Hall on Airport Road. Recently appointed Minister of Health Meqdes Daba (MD), said local production of pharmaceuticals has become a cornerstone of health policy, which received approval from the Council of Ministers a month ago. However, a report from the Global Fund For Health last year r...


AFDB Lauds $8m for Solar Mini-Grid

Around half a million people foresee benefits from the pilot mini-grid built across nine sites in Amhara, Oromia, Sidama, and the Southern regional states. African Development Bank Group has approved eight million dollars in finance to support the project under the Distributed Renewable Energy & Agriculture Modalities (DREAM) program. The DREAM project, with a total budget of 20 million dollars through concessional loans, grants, and risk mitigation, will cover half of the mini-grid capital...


Parliament Approves $275m Loan for Urban Project

A  275 million dollar loan agreement was approved by Parliament last week, to support the second phase of the Urban Water Supply & Sanitation Project. Set to be implemented over the next three years, the project follows negotiations between Ethiopia and the International Development Association (IDA). The Chief Whip Tesfaye Beljige (PhD), presented details of the loan agreement to lawmakers and said that the project focuses on enhancing the supply of clean drinking water and improving sa...