Ethiopia: Italy Promises 3.5 Billion Br to Ethiopia

by Zelalem

The Italian government vows a 3.5 billion Br grant to Ethiopia for the execution of various projects and programmes, undergoing with the aid of the Italian Development Cooperation Office (IDCO).

The grant agreement was signed last Friday, September 15, 2017, at the premises of the Ministry of Finance & Economic Cooperation (MoFEC) located on King George VI Avenue. The agreement is signed between Admassu Nebebe, state minister of MoFEC and Giuseppe Mistretta, Italian Ambassador to Ethiopia.

Along with the grant agreement, the two countries signed another framework agreement for the period of 2017-2019. The framework agreement entails a contribution to the integrated, inclusive and sustainable development.

The agreement will facilitate the ongoing and past initiatives considering new emerging priorities including the negative impact of climate change and migration.

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