The European Union is offering euro13.7 million (USD18 million) to support an initiative that will enable Ethiopia to become a climate-resilient economy.
European Commissioner for Development Andris Piebalgs was set to announce the contribution during his Jan. 31 meeting with Ethiopian officials in Addis Ababa. He was also expected to discuss with Ethiopian authorities the country’s five-year growth strategy. The EU, according to Piebalgs, will push for reforms in Ethiopia’s industrial policy and national banking system.
Piebalgs was also due to attend the Jan. 30-31 African Union summit in Addis Ababa.
“The focus of the African Union Summit, on greater unity and shared values, is particularly timely in the light of recent political events in the continent. I will attend the Summit to confirm of EU’s full support to the continent’s evolution towards more integration, democracy and good governance. They represent the indispensable basis on which African growth will blossom on the long run and for the benefit of all the people,” Piebalgs said in a Jan. 28 statement.
The bloc has earmarked more than euro2 billion to support initiatives on promoting democracy and human rights in Africa from 2007 to 2013 .