By Abdul Rahman Suagibu –
NEW AFRICA BUSINESS NEWS, Freetown, Sierra Leone- ETHIOPIA AND GERMANY have approved to make more poignant partnership between the two countries and have unimpeded a newest chapter in their meeting between the duo. Ahmed Shide – Ethiopia’s Minister of Finance and Dr. Gerd Mueller – Minister for Economic Cooperation and Development of Germany approved a joint Letter of Intent in the presence of Prime Minister Abiy Ahmed.
The Letter of Intent lays the foundation of the newest reform partnership between Germany and Ethiopia according to the statement. Precisely, Germany will support Ethiopia’s reform agenda by contributing to the World Bank’s Growth and Competitiveness Program (Development Policy Operation – DPO) the goals which are reflective with the central reform priorities of the Ethiopian government. Ethiopia’s Ministry of Finance mints to utilize planned funding “to strengthen industrial parks, increase tax revenues by improving the tax system and to enhance the investment climate”.
The two countries will also coach in the areas of vocational training and economic development “with the goal to strengthen the private sector and create jobs. “ A third pillar of the cooperation is in the Agricultural sector in which Germany will support the strengthening of agricultural value chains, an increase of agricultural productivity and (industrial) processing and marketing. “With all these measures, Germany aim to support the Homegrown Economic Reform Agenda of the Ethiopian government. “the report added.
This year, Germany aims to commit a total of 352.5 million pounds for the above mentioned areas. “Reform partnerships are the most comprehensive and important form of development cooperation which the German government can offer, “the embassy noted in its statement.
For New Africa Business News Abdul Rahman Suagibu Reports, Africa Correspondent