Friday, September 29, 2023
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.”

- Advertisement -

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 -

Subscribe

Popular

More like this
Related

Pendulum swings again for nightlife DJs

Music is a vibrant cultural force that both shapes...

Tigray officials demand redesigned transitional justice model

Officials at the Tigray Interim Administration (TIA) reject the...

Controversial property tax proposes selective exemptions

Controversial property tax draft exempts religious institutions and small residences, with eligibility determined by the Finance Ministry based on services rendered. Stakeholders will gather on September 25 to deliberate upon the implications of the draft proclamation.

Yayu Fertilizer transferring reaches 85% after years of delay

Transferring of the long-stalled Yayu fertilizer project, originally awarded to MetEC, has finally made progress, reaching 85% completion. Despite challenges, the transfer to the Chemical Industry Corporation (CIC) is underway. However, the retrieval of 25 containers and compensation for displaced farmers remain unresolved issues, demanding prompt attention.