Ethiopia and Italy struck a soft-loan agreement with the latter providing 5 million euro to the infrastructural development of Ethiopian health sector here yesterday.
The agreement was signed by Finance and Economic Cooperation State Minister Admasu Nebebe and Giuseppe Mistretta, Italian Ambassador to Ethiopia.
Speaking at the signing ceremony, Admasu said Ethiopia and Italy enjoy a long standing ties and Italy’s tremendous financial contribution to the development endeavours in Ethiopia has been exemplary for many years.
The loan agreement is well aligned with Ethiopia’s priority and will help promote the health sector. The accord has an added value for addressing the challenges facing the health sector in terms of infrastructural facilities, said Admasu.
Italian Ambassador Giuseppe Mistretta for his part said that the loan would be used to promote the infrastructural facilities of the health sector.
Italy has planned to provide Ethiopia about 125 million euro as per its three year scheme that would be used to cater to the development of Ethiopian people, he added.
The two-year project will be implemented in Amhara and SNNP states as well as in Addis Ababa.
BY DESTA GEBREHIWOT