Ethiopia and Germany have signed grant agreements totaling approximately 33 million dollars to support two initiatives: “Increasing Productivity through Innovation in Agriculture II” and “Promotion of Ethiopian Private Sector II.” The agricultural initiative, in its second phase, focuses on financing options to import advanced machinery like tractors and harvesters, aiming to boost productivity and economic growth in the sector.
The second initiative targets improved financial access for micro, small, and medium enterprises (MSMEs), especially those owned by women and youth, to promote job creation and inclusive growth.
Semereta Sewasew, state minister of Finance, held a signing ceremony last week with KfW Development Bank CFO Bernd Loewen. The Bank has invested over 1.1 billion dollars in Ethiopia to support various development initiatives, including reforestation, conservation, and vocational education. It stated that over 100,000 people have benefited from investments in vocational schools and teacher training.
