Ethiopia and the European Union on Saturday signed two financial agreements amounting €190 million to support Ethiopia’s road sector and safety net programs.€140 million of the fund will be channeled to support the Fourth Road Sector Policy Support Program of the nation while the remaining €50 million will go to support the country’s Fourth Productive Safety Net Program.
The financial agreements were signed by Minister of Finance and Economic Development, Sufian Ahmed, on behalf of the government of Ethiopia and European Union Commissioner in Charge of International Cooperation and Development, Neven Mimica.
“The financial agreements we have signed are the logical outcome of the successful implementation of the preceding Sector Policy Support Programand Productive Safety Net Program � Sufian Ahmed said after signing the agreement.
Since 2006, the EU has provided €416 .78 million to the road sub sector development in Ethiopia and channeled €350 million to the Productive Safety Net Program since 2005.
Commissioner Mimica on his part said “the road sector budget support program aims to support the implementation of the government’s Road Sector Development Program IV, which covers the period 2015/20 and aims at improving the road network and ensuring rural accessibility.
“The Productive Safety Net Program represents an excellent example of the Paris Declaration in terms of ownership of the government, harmonization, alignment and results,� said the commissioner.
Mimica added that EU’s support to the Productive Safety Net Program is a complementary support to the Resilience Building in Ethiopia program. The program will mainly target food insecure households.
Source: http://en.starafrica.com/
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