Ethiopia, IFAD sign grant agreement worth $106.54ml

Addis Ababa, May 8, 2023 (FBC) – Ethiopia and the International Fund for Agricultural Development (IFAD) have signed a grant agreement worth 106.54 million USD.

The grant agreement was signed by Ethiopia’s Minister of Finance Ahmed Shide and Sara Mbago-Bhunu, Director of IFAD’s East and Southern Africa Division.

It is stated that the grant is set to support Ethiopia’s resilient inclusive agricultural activities and climate change mitigations.

The 106.54 million USD grant agreement will be used to improve the livelihoods and income of 150,000 rural households in selected areas in sustainable manner, ensure food security and create resilience to climate change.

The grant agreement will also be used for programs focused on women, youth and the disabled.

It is also designed to reduce poverty and improve its resilience in selected areas of the country.