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.


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

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