AFD signs a Memorandum of Understanding for a EUR 85 M budget support financing dedicated to the Ethiopia economic sector reforms
published on 12 March 2019
In the frame of the French President visit to the Federal Republic of Ethiopia, Agence Française de Développement (AFD) Chief Executive Officer, M. Remy Rioux, signed on 12th March 2019, with the Ethiopian Minister of Finance and Economic Cooperation, H.E. Ato Ahmed Shide, a Memorandum of Understanding for a EUR 85 M budget support financing dedicated to the Ethiopia economic sector reforms, coupled with a EUR 15 M grant for technical assistance.
This budget support coupled with a grant is part of a financing package brought by the international community (especially the World Bank with its Development Policy Financing) to fill Ethiopia’s financing gap.
I would like to congratulate and express my highest consideration to the Prime Minister and all members of the government for the huge commitment they are currently demonstrating to implement the ambitious economic reforms program. I am proud to sign this MoU which highlights the achievements made by the Agency during the last years of operation in Ethiopia and to reaffirm AFD continuous support to the Ethiopia and such ambitious reform program.
In line with the Government of Ethiopia mid-term Growth and Transformation plan II, the aims of this Budget Support are to:
- Maximizing Finance for Development incl. PPP, energy, logistics and telecoms;
- Improving Business environment;
- Improving SOE management, transparency and accountability.
It will be accompanied by a technical assistance program aiming at achieving some of the objectives that the Government has set in terms of economic reforms implementation, especially the PPP and SOE governance reforms.
Press Contact: Lou Bachelier-Degras : bachelierdegrasl@afd.fr
