French Extends 100 mln Euros to Support Ethiopia's Economic Reforms

June 6/20119 Ethiopia and France have signed assistance agreement amounting for 100 million Euros, provided by the French Agency for Development (AFD), to support economic reforms in Ethiopia.
Ethiopia's Minister for Finance, Ahmed Shide, French Ambassador to Ethiopia, Frederic Bontems and AFD Country Director, Monkam-Daverat Ignace signed the agreement today in Addis Ababa.

Among the total financing, 85 million is provided through a Public Policy loan that aims to support Ethiopia's economic reforms focusing on maximizing finance for development; improving the business environment; and improving the management, transparency and accountability of public enterprises.

The assistance is said to be complementary to the World Bank Ethiopian Growth and Competitiveness Development Policy Financing (DPF).

On the other hand, the 15 million Euros is provided as a grant for the global technical assistance program that would support key reform actors such as the Ministry of Finance, the PPP Directorate General and the Public Enterprise Holding Administration Agency.

Part of this technical assistance program will be directly implemented by the Ethiopian Government, while another part will be channeled through Expertise France, the French public agency for international technical assistance, and as a contribution to the Multi-Donor Trust Fund managed by the World Bank.