Monday, May 27, 2024

Ethiopia: Govt Launches €650 Million Multi-Annual Indicative Programme

Ethiopia and European Union (EU) commenced 650 million Euro cooperation programs towards restructuring Ethiopia’s peace building, accelerating reconstruction and green transition.

During the launching ceremony, Ethiopia’s Finance Minister Ahmed Shide yesterday remarked that this partnership framework, the Multi Annual Indicative program (MIP) comes at the juncture as the country if facing multiple challenges and the government of Ethiopia stands committed to implementing the program jointly.

He further stated that this 650 million Euro envelop is a scaled up support which aligns with Ethiopia’s development aspirations and a platform that spurs the two sides’ strategic alliance.

He said: “Our partnership has benefitted from 40 years of cooperation in socio-economic development with the aim of improving Ethiopian livelihoods. Besides, it signifies the normalization of our development partnership.”

“This partnership prioritizes green deal, human development and governance and peace building aligning with nation’s development plans including the second home-grown agenda and our recovery and reconstruction framework as well,” the minister noted.

Moreover, he emphasized that: “We are eyeing to enhanced resource mobilization commensurate with the nation’s needs towards peace consolidation, macro-economic stability and other segments of the development.”

European Commissioner for International Partnerships Jutta Urpilainen on her part said that the signing of PretoriaCession of Hostilities Agreement has put the country on the road to peace and reconstruction.