Ethiopia and EU sign agreements to further support Ethiopia’s Development

The Government of Ethiopia and the European Union signed an agreements worth EUR 190 million to support Ethiopia’s road sector and safety net programs.

The agreement was signed between Ethiopian Minister of Finance and Economic Development, Sufian Ahmed and European Union Commissioner in Charge of International Cooperation and Development, Neven Mimica on 17 July 2015. During the signing ceremony, it was stated that “140 million Euros of the fund is for the Road Sector Policy Support Program (SPSP-IV) and the rest 50 million will be for the Fourth Safety Net Program (PSNP-IV).”

Minister Sufian praised the development cooperation between Ethiopia and the EU and said that the “EU has funded EUR 416.78 million and EUR 350 million for the road sub sector and Productive Safety Net Program respectively starting from 2005.”

EU’s Commissioner Mimica said “The road sector budget support program aims to support the implementation of the government’s Road Sector Development Program IV, which covers the period 2015/20 and aims at improving the road network and ensuring rural accessibility.” The commissioner further noted that the expansion of the road network was playing a key role in Ethiopia’s development and improves the accessibility to basic needs, public services and markets.

Source: MFA Ethiopia