Ethiopia, EU sign €650-million financial support agreement

Addis Ababa, October 3, 2023 (FBC) – Ethiopia and the European Union have signed 650 million financial support for Multi-Annual Indicative Programme.

European Commissioner for International Partnerships, Jutta Urpilainen and Ethiopia’s Finace Minister, Ahmed Shide have signed the agreement.

In her remark at the signing ceremony, Jutta Urpilainen stated that the launch of the Multi-Annual Indicative Programme shows EU’s willingness to support Ethiopia to emerge from the conflict and step up its development efforts.

According to the Commissioner, the finaical support is aimed to support green growth, inclusive human development and governance and peace building in Ethiopia.

“In Ethiopia, our 360-degree approach will support reconstruction. Many of the companies I met today raised enabling environment and macroeconomic stability as key success factors,” she added.

Commissioner Jutta Urpilainen elaborated: “As a key regional partner, the EU attaches great importance to its cooperation with Ethiopia. Today, Ethiopia is engaged in a peace process, transitional justice and reform. The European Union has consistently supported these tracks and my presence today in Addis demonstrates the importance of these efforts. Together, the EU and Ethiopia aim to gradually normalise relations through structured political dialogue and rebuild a mutual reinforcing partnership,”

“Under the Global Gateway investment strategy, this Multiannual Indicative Programme for 2024-2027 reaffirms the EU’s readiness to mobilise resources for Ethiopia’s stability, post-conflict reconstruction and macro-economic recovery,” the Commissioner added.