Ethiopia and Italia concluded a total of 16.1 Million Euros financial agreements in the form of loan and grant.

The agreement is concluded in the aim of supporting Ethiopia’s drought resilience program, health service improvement and women empowerment.

Out of the total amount, 12 Million Euros are going to be extended in the form of loan while the rest is grant.

The loan is said to be utilized for financing Draught Resilience and Sustainable Livelihoods Program, which is in place in the aim of improving resilience capacity and improve pastoral and agro-pastoral community’s sustainability of livelihoods. This is going to be carried out in selected woredas of the Afar state.

On the other hand, 3.5 Million Euros of the grant money will be used to finance the health system in Oromia and Tigray states. The rest 600,000 Euros is going to be used for projects focused on women empowerment and social integration projects.

The agreement was signed by Sufain Ahmed, Minister of Finance and Economic Development, on the Ethiopian side and Italy’s Foreign Minister Paolo Gentiloni.

Source: Ethiopian News Agency