Gov't Receives $118m in AfDB Grants

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Gov't Receives $118m in AfDB Grants

Jul 24 , 2021

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The Ethiopian government and the African Development Bank Group (AfDB) have signed an agreement for two separate grants worth 118 million dollars, aimed at supporting agro-industrial parks, Ethiopia-Djibouti power interconnection and youth employment. The agreement was signed by Ahmed Shide, minister of finance, and Abdul Kamara (PhD), deputy director-general of the AfDB's East Africa Regional Development & Business Delivery Office. Over half of the amount (71 million dollars) will be extended to the Ethiopia-Djibouti Second Power Interconnection Project, which aims to boost electricity trading between the neighbouring countries. The remaining 47 million dollars will go into the enhancement of productivity in agro-industrial parks and creating employment opportunities for the youth. Officials hope to create job opportunities for 3,000 jobs people through the project.

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