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Ethiopia, UK sign GBP 115 million agreement
Abraham Tekeste (PhD), Minister of MoFEC and Penny Mordaunt, the UK s Secretary of State for International Development

Ethiopia, UK sign GBP 115 million agreement

The governments of Ethiopia and the United Kingdom of Great Britain and Ireland, acting though the Department for International Development (DfID), have signed a grant agreement of GBP 115 million at the Ministry of Finance and Economic Cooperation (MoFEC) today.

Out of the total grant amount, GBP 80 million will be used to finance the Ethiopian Jobs Compact Program while the rest GBP 35 million will be invested in the Tax Systems Reform Program.

Based on the two agreements signed, the grant will be used to support industrialization in Ethiopia aimed at creating 100,000 jobs for the locals and 30,000 jobs for refugees residing in the country. The investment in the tax reform is said to enhance the resource mobilization of the country and increase revenue.

The agreement was signed between Abraham Tekeste (PhD), Minister of MoFEC and Penny Mordaunt, the UK s Secretary of State for International Development.