The Ethiopia Ministry of Finance (MoF) and the African Development Bank (AfDB) on Wednesday signed two grant financing agreements worth 44.4 million U.S. dollars.

The MoF said in a press statement that two projects focused on food security and capacity building, respectively.

“The first project is a 40 million U.S. dollars scheme to finance the implementation of a program to build food and nutrition security,” the MoF statement said. “The second project is a 4.4 million U.S. dollars scheme to be used for the implementation of a program to strengthen macroeconomic management.”

The two grant financing agreements aim to boost peace and security in drought-prone lowland areas of Ethiopia through agricultural resilience, as well as strengthen the capacity of key macro institutions.

The AfDB has previously signed a host of financial aid agreements with Ethiopia to boost the East African country’s economic development, including a 71.3-million-U.S.-dollar grant agreement to finance the Ethiopia-Djibouti power interconnection project. The agreement signed in July 2021 is used to finance the construction of a transmission line from Ethiopia to Djibouti.

Source: Xinhua


The opinions expresses here in the post "Ethiopia, AfDB Sign Two Grant Financing Agreements" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.


Comments are closed.