Fed Secures 25m Grant, Loan for Green Development

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Fed Secures 25m Grant, Loan for Green Development

Aug 4 , 2024

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A 25 million euro financing agreement to finance state projects such as Gebeta Letewled was signed last week. The agreement includes a 13.5 million euro grant and an 11.5 million euro soft loan aimed at promoting environmental and green economy development. Minister of Finance Ahmed Shide and Ambassador of the Government of the Italian Republic Agostino Palese, signed the agreement, with hopes of appropriating the funds to strengthen Ethiopia's economic system, environmental protection, and natural resource management. "Italy is proud to support Ethiopia's efforts to build a sustainable and green economy," Ambassador Agostino said. "This agreement underscores our shared commitment to climate action and green growth."

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