Ethiopia, Germany Sign €74.5 Mil. Grant Agreement

Addis Ababa, ENA, October, 23/2012 Ethiopia and Germany today signed a financial and technical agreements amounting to 74.5 million Euros.

The technical agreement aims to support three projects with a total of 28 million Euros to be implemented through GIZ, while the 46.5 million Euros will finance two other projects.

The agreements were signed by State Minister of Finance, Admasu Nebebe and Ambassador of Germany to Ethiopia, Brita Wagener.

After the signing ceremony, State Minister Admasu said the grant agreement will help to create skilled manpower in the efforts to integrate agriculture into the industry.

Moreover, he stated, the grant agreements will foster jobs creation for the youth, refugees and returnees as well as rehabilitating those affected by conflict.

Germany is increasing its support level for Ethiopia, he said adding that recently the government of Germany pledged to fund 100 million Euros to support the ongoing reforms in the country.

Germany Ambassador to Ethiopia, Brita Wagener said on his part his country is committed to support Ethiopia's economic reforms.

The ambassador reaffirmed that Germany will continue to strengthen its bilateral relations and development with Ethiopia.