EU, Ethiopia Sign 240 Million Euro Program that Promotes Sustainable Development

The European Union (EU) and Ethiopia have signed the Annual Action Programme (AAP) 2024, allocating 240 million Euros to support Ethiopia’s development. The program focuses on agribusiness, democratic institutions, healthcare, forced displacement solutions, and private sector engagement. Finance Minister Ahmed Shide emphasized the EU’s role in stimulating private sector investment and modernizing economic systems. EU Ambassador Sofie From-Emmesberger highlighted the EU’s commitment to Ethiopia’s economic growth, particularly in the agriculture sector. The signing ceremony was attended by EU member state ambassadors.

EU, Ethiopia Sign 240 Million Euro Program that Promotes Sustainable Development

The European Union (EU) and Ethiopia have signed the Annual Action Programme (AAP) 2024, allocating 240 million Euros (32.3 billion Birr) to support Ethiopia's development.

Key Areas of Focus

The AAP 2024 aims to enhance several critical sectors:

Agribusiness Development: Creating jobs for smallholder farmers and strengthening the sector.
Democratic Institutions: Supporting governance, inclusivity, and post-conflict resilience.
Health Services: Restoring basic healthcare for conflict-affected communities and providing psychosocial support for survivors of gender-based violence.
Forced Displacement Solutions: Improving economic opportunities for displaced individuals and refugees.
Private Sector Engagement: Strengthening value chains for sustainable development.

Signing Ceremony Highlights

Finance Minister Ahmed Shide and EU Ambassador Sofie From-Emmesberger signed the agreement, emphasizing the 50-year partnership between Ethiopia and the EU.

Minister Ahmed Shide expressed gratitude for the EU’s comprehensive support, highlighting its role in stimulating private sector investment, modernizing tax and customs systems, and developing capital markets. He also stressed Ethiopia’s focus on regional cooperation, particularly through initiatives like the Horn of Africa Initiative (HOAI).

Ambassador Sofie From-Emmesberger reiterated the EU's commitment to sustainable development, peace, and prosperity in Ethiopia. She noted that the EU is particularly supporting Ethiopia’s agriculture sector, including its coffee industry.

The signing ceremony was attended by ambassadors from EU member states.

Source: ena.et

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