The European Union will give Ethiopia 745 million Euros from the European Development Fund over the next five years. The funds are expected to strengthen the developmental cooperation between Ethiopia and the EU.
“Ethiopia is receiving the highest financial allocation, 745 million Euros for the next five years, in addition to specific and thematic support,” said EU Ambassador and Head of Delegation, Chantal Hebberecht on Tuesday, October 6, 2015 during a media workshop.
Hebberecht further stated that the main principles of the cooperation between Ethiopia and the European Union are those of respect of ownership of development projects and setting cooperation agenda based on priorities of the government.
“Here in Ethiopia, the government has a vision for the present and the future. We are trying and succeeding in supporting the main priorities of the government. This was the case during GTP I and there have been several consultations regarding GTP II,” she said. Hebberecht also noted that the EU regularly has dialogues with the government, not only on cooperation issues but also on politics, and trade relations among others.
“This partnership is very dynamic. The EU wants to help with the transformation of Ethiopia based on European values – human rights, freedom of expression and democratic processes,” she added.
During the workshop, several areas of cooperation such as private sector development, transportation systems, renewable energy and the environment as well as governance and works of Civil Service Organizations (CSOs) were noted as potential areas for further collaboration.
It was also highlighted that the EU is one of Ethiopia’s largest trading partners. Currently, there are 300 EU companies operating in Ethiopia with investments amounting to two billion Euros in areas of beverage production, horticulture and agro-processing.