Ethiopia signs a €25mln financing agreement with Italy

Addis Ababa, July 31, 2024 (FBC) – The Federal Democratic Republic of Ethiopia have signed a €25 million financial support agreement with Italy for environmental development and green economy, the Embassy of Italy in Addis Ababa disclosed today.

The agreement is said to be one of the key stepping stones for the implementation of the Mattei Plan in Ethiopia to support job creation, economic growth and the achievement of the country’s sustainable development goals.

Out of the total amount of the financing agreement, €13.5 million is grant and €11.5 million is soft loan that intended for the environmental and green economy development through the strengthening of the country’s economy system and its environmental and natural resource features.

Moreover, the financing agreement supports the government initiatives, such as “Dine for Generations”, that focuses on environmental and biodiversity construction and rehabilitation, sustainable urban land use and investments on ecosystem services and tourism.

The agreement was signed by Ethiopia’s Minister of Finance, Mr. Ahmed Shide, and Ambassador of Italy to Ethiopia, Agostino Palese, in Addis Ababa.