ADDIS ABABA – France, through the French Development Agency (AFD), will disburse 40 million euros of budgetary support to Ethiopia in the current COVID-19 context
According to a press release sent to The Ethiopian Herald yesterday, the ambassador of France in Ethiopia and to the African union, Frédéric Bontems, met with the minister of Finances of Ethiopia, Ahmed Shide, to announce the immediate disbursement by France of 40 million euros of budgetary support to the Ethiopian government in the context of the fight against COVID-19.
It will help Ethiopian government to face short-term challenges and support its emergency plan as well the current national efforts to achieve the economic transition of the country.
Those 40 million euros are part of a 85 million euros agreement signed on June 6th 2019 to support the Federal Democratic Republic of Ethiopia for the implementation of its ambitious economic reforms, which was the result of a joint declaration of intent agreed during the visit of French President Emmanuel Macron in Ethiopia on March 12th, 2019. A first disbursement of 45 million euros occurred in December 2019. The global remaining amount of 40 million euros was to be disbursed up to 2021.
In the COVID-19 context, France decided to release it immediately.
AFD has also engaged discussions with all its Ethiopian partners in on-going projects to reallocate funds or to adapt the activities to the most urgent needs related to the COVID19 crisis.
The decisions that could be taken on these issues will facilitate the Ethiopian government response to the sectoral priorities in this difficult context.
This support by France is part of the concerted supports of the European Union and its member states, in a “Team Europe” approach against COVID-19 in Ethiopia.
The Ethiopian Herald May 14/2020
BY STAFF REPORTER
