AFD Pledges to Strengthen Financing of Development Activities in Ethiopia

 

The French public financial institution, Agence Française de Développement (AFD), said it has been working to widen its cooperation and continue to provide finance for the priority areas of the Ethiopian Government.

During a press briefing he gave here yesterday, AFD Regional Director Ignace Monkam-Daverat said the agency has achieved significant progress in three priority areas, namely energy, urban development, and job creation with a focus on private sector development.

According to the Director, the agency has helped in mobilizing and providing soft loan to finance Ashegoda Wind Farm that generates 120 MW and is the first of its kind to the country.

It has also provided most of the loan for Aviation Academy which gives initial and continuous training in Piloting, Aircraft maintenance, cabin crew and marketing to trainees from 45 different countries, he added.

Monkam-Daverat pointed out that AFD’s strategy in Ethiopia is defined in line with the priorities of the Growth and Transformation Plan (GTP) and in accordance with the partnership framework document signed by the Ethiopian and French governments.

In 2017, AFD will celebrate the 20th anniversary of its installation in Addis Ababa.

Over the past 20 years in Ethiopia, AFD has reportedly committed over 525 million Euros to finance projects.

Agence Française de Développement (AFD) is a public financial institution that implements the policy defined by the French Government to combat poverty and promote a sustainable development in developing and emerging countries.

It operates on four continents via a network of 75 offices, finances and supports projects that envisages improving living conditions for populations, boost economic growth and protect the planet.

source eaa