Ethiopia, Italy Ink a 28.7 Mln Euro Loan, Grant Deal

Addis Ababa, March 5/2020(ENA) Ethiopia and Italy have signed today loan and grant agreement amounting 28.7 million Euros (ETB 1.04 billion).

Of the total, 16 million Euros is a loan, whereas the remaining 12.7 million Euros is a grant.

The agreement was signed between State Minister of Finance, Admasu Nebebe and Arturo Luzzi, Ambassador of Italy to Ethiopia.

The 16 million Euros loan is allocated for the implementation of the Health Sector Transformation Plan in Afar, Benishangul-Gumz, Gambella and Somali Regional States

The loan will also be used to support for skill enhancement and job creation program in Ethiopia.

Likewise, the 12.7 million Euros grant deal will make use of projects for intervention to reduce geographical inequities in the four Regional States, Addis Ababa riverside development project, and a project to improve rural livelihood in Southern Nations Nationalities and Peoples’ Region (SNNPR).

As per the agreement, the projects aim at providing financial and technical support for the implementation of the stated projects in different regions of Ethiopia, including the capital Addis Ababa.