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The European Union (EU) pledges 540 million Euros to assist rural road construction in Ethiopia in five years to come, according to Ethiopian News Agency.

During a workshop organized by European Union (EU) and Coffee Development Sector, the EU recommended Ethiopia to host a research institute of Coffee Arabica, according to The Reporter.

The European Union is to support the efforts to modernize and expand the industrial sector. The support is intended to create an enabling environment to allow Ethiopia to exploit its potential for industrial development to enhance the country’s economic development which is currently founded on agriculture.

The EU is committed to supporting the government as the country drawing lessons from Asia and Eastern Europe the project expects to be comprehensive in aiding economic growth through fine tuning policy making, building the capacity of institutions and supporting intermediary organizations by offering direct support said Xavier Marchal, Head of the European Delegation to Ethiopia.

The program is funded by 35 million pounds to support Ethiopia’s plans to accelerating private investments and industrialization. It promotes better cooperation between private and public sector to encourage investments and to enhance the capacity for export he said.

The European Union (EU), Germany, and the Netherlands launched a Euro 36 million program to revitalize Ethiopia's conflict-affected areas. The four-year initiative targets micro, small, and medium-sized enterprises (MSMEs) in Afar, Amhara, and Tigray.

European Investment Bank (EIB) concluded an agreement with Ethiopia for the establishment of a country in Addis Ababa.