Wednesday, February 8, 2023
- Advertisement -
- Advertisement -
BusinessSweden announces USD 400 million cooperation, support with region

Sweden announces USD 400 million cooperation, support with region

Increases support to Ethiopia by USD 52 million

With a focus on helping Ethiopia advance on areas of environment, climate change, job creation, human rights and democracy;CarinJamtin, the Director General of the Swedish International Development Agency, made a two day visit of the capital earlier this week and pledged support for various development endeavors in the country.

Praising the slew of reforms taking place in the country at the Swedish embassy sponsored symposium on journalism, the director alluded to the nation’s reforms on human rights, democracy and job creation.She announced a USD 400 million in support and cooperation with theHorn of Africa Region; Ethiopia being one of its leading recipients in the areas of integration and capacity building.

“Through seven decades, Sweden has partnered with Ethiopia in many areas – forestry, aviation, telecommunication, healthcare, private sector development and not least, education and research,” Carin said.

“I am here in Ethiopia, with the intent of visiting and discussing with partners and embassy staff in order to analyze how the Swedish development cooperation to Ethiopia and sub-Sahara Africa can work better for the very poor, and can be aligned to the political development and ongoing reforms both at the continent level, as well as in Ethiopia.”

On her visit to the headquarters of the African Union, the director said that her nation intends to continue to support its transformation moving forward. “I am convinced that for AU to realize its vision of an integrated, prosperous and peaceful Africa, driven by its own citizens; represents a dynamic force in (the) global arena.”

The nation, increasing its support to Ethiopia, expanded its financial support to the tune of USD 52 million for the next three years, targeting poverty reduction towards vulnerable groups. The Scandinavian nation, with a direct flight to its capital, Stockholm by Ethiopian Airlines, has been advocating for investors to invest within Ethiopia.

To date, Ericson, which has won government telecommunication contracts and H & M, which has opened-up shop inside the nation’s industrial park has answered the call. Ikea, Sweden’s most successful international company has also shown an interest to start producing some of its products within Ethiopia.

While in the capital, she met with State Minister AdmassuNebebe and the Commissioner of Political Affairs, CessoumaMinataSmate at the headquarters of the African Union.

- Advertisement -



More like this

New central bank’s governor reveals priorities to get economy back on feet

The newly appointed National Bank of Ethiopia (NBE) governor,...

Absence of investment banks compels central bank to repurpose retail banks

In preparation for Ethiopia's forthcoming capital market, the National...

Ministry estimates conflict casualties at 400,000

Targets zero conflict casualties A draft program published by the...

Khat exporters in trouble, $ 21 million export earnings lost

32 exporters accused of mishandling $21 million The licenses of...