France to disburse €40m budgetary support to Ethiopia

Addis Ababa, May 13, 2020 (FBC) –France has announced that it will disburse a €40 million budgetary support to Ethiopia to help the country in its fight against COVID-19.

The money will be disbursed through the French Development Agency (AFD), according to a press release the embassy of France in Addis Ababa sent to FBC.

The announcement came following a meeting today between the ambassador of France in Ethiopia, Frederic Bontems and Ethiopia’s Minister of Finance, Ahmed Shide.

The budgetary support will help Ethiopia to cope with short-term challenges and support its emergency plan as well the current national efforts to achieve the economic transition of the country.

The support is part of a €85 million agreement signed in June last year to assist Ethiopia in the implementation of its ambitious economic reforms.

The agreement was signed following the visit of French President Emmanuel Macron to Addis Ababa in March last year.