The United Kingdom and Ethiopia have reached aid agreement yesterday worth about £115 million.
According to media sources in Ethiopia, £35 million allocated to finance the cost of improving the taxation system in Ethiopia. The proposed change to the system aims to transform it to a modern one.
The rest of the fund is to be channeled towards job creation programs in the country.
The job creation program is meant to help unemployed Ethiopians and refugees residing in Ethiopia. Up to 100,000 unemployed Ethiopians and 30,000 refugees will benefit from the program, according to Ethiopian Broadcasting Corporation report which cited Ministry of Finance and Economic Cooperation Minister.
Penny Mordaunt, United Kingdom’s Secretary of State for International Development, and Abraham Tekeste, Ethiopia’s minister for finance and economic cooperation signed the agreement in the capital Addis Ababa.
United Kingdom’s Department for International Development profile for Ethiopia shows £302 million is allocated for the 2018/19 fiscal year and more than 60 percent of it is seemingly is allocated for Human Development program. UK funds programs in productive safety net, building resilience and sustaining and accelerating health care programs in Ethiopia.
Join the conversation. Like borkena on Facebook and get Ethiopian News updates regularly. As well, you may get Ethiopia News by following us on twitter @zborkena