The French Development Agency (AFD) provides 100 million euros to support economic reforms in Ethiopia [fr]
On Thursday, June 6th 2019, a signing ceremony of a loan and a grant agreements took place at Ministry of Finance and Economic Cooperation (MoFEC) between H.E. Admasu Nebebe, Ethiopian State Minister of Finance and Economic Cooperation, Mr Ignace Monkam-Daverat, the French Development Agency (AFD) Regional Manager in Addis Ababa as well as H.E. Frederic Bontems, Ambassador of France to the Federal Democratic Republic of Ethiopia and to the African Union.
Through these two agreements, a 100 million euros financing has been provided by AFD to support the Federal Democratic Republic of Ethiopia for the implementation of its ambitious economic reforms. Among this financing, 85 million is provided through a Public Policy concessional loan, and 15 million is provided as a grant for the global technical assistance programme.
The Public Policy Loan will aim to support the Government of Ethiopia in the implementation of GTP II economic reforms by focusing on the following themes: maximizing finance for development, improving the business environment, and improving the management, transparency and accountability of public enterprises. It will be complementary to the World Bank Ethiopian Growth and Competitiveness Development Policy Financing (DPF).
The Public Policy Loan will be coupled with a grant-funded technical assistance program that would support key reform actors such as the Ministry of Finance, the PPP Directorate General and the Public Enterprise Holding Administration Agency. Part of this technical assistance programme will be directly implemented by the Ethiopian Government, while another part will be channelled through Expertise France, the French public agency for international technical assistance, and as a contribution to the Multi-Donor Trust Fund managed by the World Bank.
This support is the result of the joint declaration of intent signed between AFD and the Federal Democratic Republic of Ethiopia during the visit of French President Emmanuel Macron in Ethiopia on March 12th, 2019.
The Agence Française de Développement (AFD) is the French bilateral development bank, which has been working for more than 70 years implementing French development-aid policy. In 2018, AFD committed for 11.4 billion euros financing worldwide.
AFD: Ignace Monkam-Daverat, firstname.lastname@example.org;
Anne Laulhere-Vigneau, email@example.com
Tel.: +251 115 52 65 64