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.


Radar

Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share insights into his cascade of experiences, the first round is expected to set off at the Inter-luxury H...


Radar

Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Radar

Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...


Back
WhatsApp
Telegram
Email