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News: France, Ethiopia sign two financial support agreements worth 42 million euro

Samarita Sewasiw, Minister of State for Finance, and French Foreign Minister, Catherine Colonna. Photo: Ministry of Finance

Addis Abeba – France and Ethiopia signed two financial support agreements for a sum of 42 million Euro.

The Ethiopian Ministry of Finance said that the first is a financial support agreement worth 32 million euro and aimed at stabilizing food security by improving agricultural productivity in conflict-affected regions of Tigray, Amhara, Afar, Oromia and Southern Nations, Nationalities and People’s regional states.

The second agreement is for a sum of 10 million euro in financial support. Of this, six million euro is in new financial support, and the remaining four million euro is an extension to an existing loan slotted for the implementation of electric power transmission lines projects in conflict affected areas with maturity date until December 2024.

The financial support agreements were signed on the Ethiopian side by the Samarita Sewasiw, Minister of State for Finance, and the visiting French Foreign Minister, Catherine Colonna.

In a related news, during his recent visit to Ethiopia, China’s foreign minister Qin Gang announced that his country has cancelled 30 million Yuan (US$4.5 million) debt owed by Ethiopia. “China’s support to our country is beyond what is done today,” state minister of the Ethiopian ministry of foreign affairs, Ambassador Meles Alem told state media.

“These diplomats came to Ethiopia to observe what is on the ground and to provide support following the Pretoria agreement. It is a visit meant to solidarity their partnership,” Meles added.

During his visit, Ethiopia and China signed Memorandum of Understanding to further enhance their cooperation on political and economic issues. Foreign Minister Gang also presided over the inauguration of Chinese funded Africa Center for Disease Control (Africa CDC) located in Ethiopia’s capital in Addis Abeba. AS

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