Peace Agreement Step Forward to Boost Economic Climate in Ethiopia: European Investment Bank

Addis Ababa , December 15/2022 /ENA/  The peace deal between the Government of Ethiopia and TPLF plays pivotal role in creating better political stability and conducive economic climate in the country, European Investment Bank Representation Head Eleni Kyrou said.

In an exclusive interview with ENA, the head pointed out that the agreement would create better investment environment in the country.

Citing that political stability is the first thing that investors want, she said foreign and domestic investors want to have certainty that their investment is safe.

Kyrou stressed that the peace agreement will play pivotal role in creating better political stability and conducive economic climate in the country, which is a great step forward.

“We really look to its implementation and I am confident that the entire European Union, all EU member states and EU delegations stand behind next steps.”

According to the head, the European Investment Bank supports Ethiopia through sovereign loans and also foreign and Ethiopian private sector investors who want to step into the country.

“We (the EU Investment Bank) support the country not only through sovereign loans but also through supporting the private sector investors that want to step into the country, and not just foreigners, but also Ethiopians and any nationality.”

Highlighting the significance of the private sector for the country’s economic growth, she noted that being on the same page with EIC is a very natural approach.

For us it is important to know that having the private sector on board is absolutely imperative to  the country’s economic growth, and being on the same page with EIC is a very natural approach, she stated.

Recall that the European Investment Bank (EIB) opened a representative office in Addis Ababa, on July 16, 2015, following an agreement signed with the then Ministry of Finance and Economic Development (MoFED).

The European Investment Bank, Europe’s long-term lending institution, formally opened the Bank’s permanent representation in Ethiopia both to support long-term infrastructure and private sector investment in Ethiopia and to manage relations with the African Union Commission and other international organizations based in the Ethiopian capital, it was learned.