Ethiopian and French governments signed several agreements in Addis Ababa to support Ethiopia's economic reforms. The agreements were signed by Finance Minister Ahmed Shide and French Minister for European and Foreign Affairs Jean-Noël Barrot. France will provide 80 million euros in grants and 1.5 million euros in technical assistance.
On February 4, 2018, the governments of Ethiopia and France signed various agreements in Addis Ababa aimed at supporting Ethiopia's economic reforms. The agreements were signed by Ethiopian Finance Minister Ahmed Shide and French Minister for European and Foreign Affairs Jean-Noël Barrot.
Ahmed Shide highlighted France's role as lead coordinator and assured Ethiopia's commitment to enhancing collaboration to create new investment opportunities. He noted that priority issues in the Horn of Africa initiatives funded by France and the European community would be addressed.
Jean-Noël Barrot emphasized the necessity of the long-term partnership between the European Union and Ethiopia, stating that the agreements are based on shared management, shared investments, and shared expertise for sustainable development. He mentioned that the collaboration aligns with Ethiopia's Reform Agenda and that French development institutions play a strategic role in foundational development finance.
The officials stressed the need for a flexible and investor-friendly business environment to realize mutual economic benefits and maintain Ethiopia's leadership position. Under the agreements, France will provide Ethiopia with 80 million euros in grants for the second phase of the economic reform program and 1.5 million euros in technical assistance. The ministry informed that this includes the first historic debt swap agreement under the common framework with two leaders among 20 member countries. Bilateral cooperation in investment and other sectors can be strengthened.
