ADDIS ABABA – Germany has announced a 388 million USD financial assistance to Ethiopia to support the ongoing homegrown economic reforms that will promote private investment and sustainable economic development.
The financial assistance announced during a four-day visit to Ethiopia by Germany’s Minister for Economic Cooperation and Development, Gerd Müller.
The high-level visit follows the G20 Compact with Africa (CWA) conference held in Berlin a few weeks ago, during which Germany and Ethiopia concluded a Declaration of Intent on the Design of a Reform Partnership to Promote Private Investment and Sustainable Economic Development, ENA reported.
The two countries agreed to deepen their partnership and opened a new chapter to enhance their bilateral relationship. A joint letter of intent signed on Monday by Finance Minister Ahmed Shide and German’s Minister for Economic Cooperation and Development, Gerd Mueller, where Prime Minister Abiy presided over the signing ceremony.
Germany also handed over keys for up to 144 agriculture equipment, including spare parts, in support of agricultural mechanization in Ethiopia.Both sides agree to cooperate in the areas of vocational training and economic development with the goal to strengthen the private sector and create jobs.
The Ethiopian Herald, December 4/2019
BY TAMERU REGASA
