Ethiopia inks economic cooperation agreement with AFD and Expertise France

Addis Ababa, November 29, 2024 (FBC) – The Ministry of Finance of the Federal Democratic Republic of Ethiopia, the French Development Agency (AFD), and Expertise France have signed an economic cooperation agreement aimed at expanding and strengthening their partnership.

The agreement focuses on mobilizing highly qualified expertise and supporting public policies in sectors such as economic development, climate action, health, and human development, according to the Ministry.

Speaking at the signing ceremony, Ms. Semereta Sewasew, Ethiopia’s State Minister of Finance, expressed her gratitude and stated, “The Ethiopian government places great value on the support of the French government and hopes this agreement will further enhance our collaboration.”

Jeremie Pellet, Chief Executive Officer of Expertise France, expressed his appreciation for the warm welcome and highlighted the areas of future cooperation. “Expertise France will expand its support to the State-Owned Enterprise (SOE) reform, Public-Private Partnerships (PPP), and the overall Homegrown Economic Reform Program,” he noted.

He also emphasized activities in economic sector value chains, projects at the National Palace, and interventions in the health sector. Pellet announced plans for establishing a permanent team in Ethiopia to closely support ongoing projects and expand collaboration in digital and AI technologies.

In response, Ms. Semereta commended the commitment to digital and AI development, underscoring its high value and importance as a milestone in the partnership. She also highlighted the significance of leveraging the Team Europe approach to foster collaboration and support private sector initiatives.

Since 2018, AFD’s portfolio in Ethiopia has diversified significantly. While maintaining investments in traditional sectors such as energy, transportation, agriculture, and urban development, AFD has expanded its focus to include support for economic reforms, governance, and heritage preservation.

The agreement was signed by State Minister Semereta Sewasew, Mr. Louis Antoine, Country Director of AFD, and Mr. Jeremie Pellet, Chief Executive Officer of Expertise France, representing the Ethiopian and French governments, respectively.