The announcement was made during a meeting between Finance Minister Ahmed Shide and Ambassador of Germany to Ethiopia, Stephan Auer. In the previous week, the Ambassador of Germany to Ethiopia had a meeting with Fitsum Assefa, Minister of Planning and Development, that focused on increasing collaboration between Germany and Ethiopia.
The Ambassador conveyed that Germany is dedicated to supporting Ethiopia’s economic reforms. The fund will finance various programs such as productive safety net, good governance, land use planning, agricultural mechanization, drought resiliency projects, enhanced food security programs, agricultural mechanization projects, and drought resilience programs.
The two countries agreed to reinforce collaboration in the future through investment and development programs in different sectors. With Germany’s help, Ethiopia aims to enhance its economic development and expansion.