Ethiopia, Italy Sign Cooperation Framework

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State Minister of Finance and Economic Cooperation, Admasu Nebebe, and Italian Ambassador to Ethiopia, Giuseppe Mistretta.

The governments of Ethiopia and Italy on Friday signed a cooperation framework that would last for three years.

The cooperation framework is crucial to support the efforts of the Ethiopian government to achieve comprehensive and sustainable development.

Comprehensive and sustainable agricultural development, accessibility of basic services, governance and building capacity of refugees are the focal areas in the cooperation framework, it was indicated.

Through the framework, the government of Italy will extend 125 million Euros development assistance. Of the total assistance the 45 million Euros has extended in the form of grant, while 80 million Euro in the form of loan.

Out of the total assistance 64 million USD will be used to finance the construction of agro-processing parks, value chain development, enterprenerial development, leather industry and drought resilient projects.

The remaining money will be used to carry out the projects for potable water supply and sanitation, health service provision in rural areas, and for expenditures related to administration and migration.

The accord was inked by State Minister of Finance and Economic Cooperation, Admasu Nebebe, and Italian Ambassador to Ethiopia, Giuseppe Mistretta.


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