France to Disburse 40 Mln Euros to Ethiopia

Addis Ababa, May 13/2020(ENA) France announced on Wednesday that it will disburse 40 million Euros budgetary support to Ethiopia to the country’s effort in the fight aginst COVID-19 pandemic.

In a press release the French Embassy in Addis Ababa sent to ENA, the money will be paid out through the French Development Agency (AFD).

The statement came after a meeting today between the French Ambassador to Ethiopia, Frederic Bontems and Finance Minister of Ethiopia, Ahmed Shide.

The budgetary support will help Ethiopia to deal with short-term challenges and support its emergency plan as well the current national efforts to achieve the economic transition of the country.

The fund is part of a 85 million Euros agreement signed on June 2019 to shore up Ethiopia for the implementation of its economic reforms.

A first disbursement of 45 million Euros occurred in December 2019. The global remaining amount of 40 million Euros was to be disbursed up to 2021. In the COVID-19 context, France decided to release it immediately.

AFD has also engaged discussions with all its Ethiopian partners in on-going projects to reallocate funds or to adapt the activities to the most urgent needs related to the COVID19 crisis.

The decisions that could be taken on these issues will facilitate the Ethiopian government response to the sectoral priorities in this difficult context.

The support by France is part of the concerted supports of the European Union (EU) and its member states, in a "Team Europe" approach against COVID-19 in Ethiopia.