The French government has expressed its intention to continue supporting Ethiopia’s economic reforms and the upcoming International Monetary Fund (IMF) agreement, reaffirming its solidarity with the East African nation.

During an event organized by the French Embassy in Ethiopia, French Ambassador to Ethiopia Remi Marechaux stated that the French government has backed the previous IMF agreement and the economic reforms launched in 2019. “We intend to do so in the soon-to-be-agreed, soon-to-be signed IMF agreement. So we intend to continue supporting this economic reform through the engagement of the French government agency,” Marechaux said.

The event celebrated the induction of the French Business Association in Ethiopia (CAFE) into the prestigious CCI France International (CCI FI France Ethiopia) network.

Ambassador Marechaux highlighted the long-standing economic relationship between France and Ethiopia, dating back to the late 19th century when France was the first country to initiate rail development in the region. He noted that the French economic presence in Ethiopia today is diversified, encompassing sectors such as the food industry, transport, entertainment, and the energy sector.

“The first chamber was fueled by France’s diverse activities in the region, this included of course the railway sector, but it goes beyond the railway sector, and its members were active in industry, culture, trade and telecommunication. But also in services such as restaurants, printing, and even a movie,” the ambassador stated.

The ambassador expressed confidence in the future activities of the newly established CCI FI France Ethiopia network, which currently consists of 11 companies, including industry leaders such as Meridien, Total, and Castel.

The French government’s reaffirmation of its support for Ethiopia’s economic reforms and the upcoming IMF agreement comes at a critical time, as the country continues to navigate the challenges posed by the COVID-19 pandemic and other economic headwinds.