Ethiopia has secured USD 110 million in financing from the European Investment Bank (EIB) to support the third phase of the Rural Financial Intermediation Program (RUFIP III), aimed at expanding access to finance in rural areas and advancing agricultural transformation.

According to the Ministry of Finance, the agreement followed a series of high-level bilateral meetings Finance Minister Ahmed Shide held with senior officials from the European Union (EU) Commission and the EIB on the sidelines of the World Bank and IMF Annual Meetings.

In his discussions with Marjeta Jäger, Deputy Director-General of the EU Directorate-General for International Partnerships, Minister Ahmed emphasized enhancing cooperation in regional infrastructure, supporting Ethiopia’s reform agenda, and aligning EU initiatives with national development priorities.

He also met with Thouraya Triki, EIB Director for International Partnerships, acknowledging the Bank’s sustained support for SME financing, WASH projects, and women’s entrepreneurship.

The newly approved USD 110 million funding underscores EIB’s continued confidence in Ethiopia’s development trajectory. It will strengthen financial institutions’ capacity to serve underserved rural populations, foster financial inclusion, and stimulate local enterprise growth.

The Ministry noted that the partnership reflects the shared commitment of Ethiopia and EU institutions to promote sustainable development, private sector growth, and economic transformation across the country.

Source (including image): Ethiopian News Agency