France disburse 40 million euros of budgetary support to Ethiopia

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On May 13th, the ambassador of France in Ethiopia and to the African union, Frédéric Bontems, met with the minister of Finances of Ethiopia, Ahmed Shide, to announce the immediate disbursement by France of 40 million euros of budgetary support to the Ethiopian government in the context of the fight against COVID-19. It will help Ethiopian government to face short-term challenges and support its emergency plan as well the current national efforts to achieve the economic transition of the country. This 40 million euros is part of an 85 million euros agreement signed on June 6th 2019 to support the Ethiopia for the implementation of its ambitious economic reforms, which was the result of a joint declaration of intent agreed during the visit of French President Emmanuel Macron in Ethiopia on March 12th, 2019. A first disbursement of 45 million euros occurred in December 2019. The global remaining amount of 40 million euros was to be disbursed up to 2021. In the COVID-19 context, France decided to release it immediately. AFD has also engaged discussions with all its Ethiopian partners in on-going projects to reallocate funds or to adapt the activities to the most urgent needs related to the COVID19 crisis.