This archive report was first published on 3 December 2019.
On December 3, 2019, Ethiopia received a significant boost to its economic development efforts with a grant of $388 million (KSh39.8 billion) from Germany.
The grant, aimed at promoting private investment and sustainable economic development, is part of Germany's commitment to supporting Ethiopia's reform agenda.
According to Gerd Müller, Germany's Minister for Economic Cooperation and Development, the grant will be used for direct budgetary support, with 110 million euros allocated for this purpose.
The funding will also be used to promote private investment and ongoing reforms, with a focus on strengthening industrial parks, improving the tax system, and enhancing the investment climate.
Additionally, the grant will support the development of vocational training, economic development, and agriculture, with a specific focus on strengthening agricultural value chains, increasing agricultural productivity, and improving processing and marketing.
The agreement was signed by Germany's ministers for economic cooperation, labor, and social affairs, who were in Ethiopia on a state visit.
