Germany Grants 74.3m Euros in Cooperation Agreement

October 26 , 2019


Germany Grants 74.3m Euros in Cooperation Agreement

State Minister of Finance and Economic Cooperation Admasu Nebebe and Brita Wagner, ambassador of the Federal Republic of Germany in Ethiopia, signed a 74.3-million-euro financial and technical support agreement on October 23, 2019. The technical agreement will finance three projects with a total of 28 million euros, and the projects are going to be implemented through the technical arm of the German Development Cooperation Agency, GIZ. The projects will focus on special initiatives on “Training and Job Creation” including small and medium enterprise promotion, social and economic reintegration of refugees and returnees, and rehabilitation of those affected by conflicts in the country. The financial agreement accounting for 46.5 million euros will support two other projects, and they are going to be implemented in partnership with the International Organization for Migration (IOM) with the allocation of ten million euros. Separately, Germany pledged to fund 100 million euros to support the ongoing reform in Ethiopia.


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