Ethiopia and the United Arab Emirates (UAE) on Monday signed a grant agreement worth 100 million dollars that aimed to support the Ethiopian government’s efforts in the innovation and technology sectors.
The 100 million dollars grant agreement, which was signed in Addis Ababa, mainly envisaged to boost the capacity of micro, small and medium enterprises.
Ethiopian Prime Minister’s Office said a particular emphasis is been given to enterprises in the innovation and technology sectors. The grant is necessary to build these businesses.
The Minister of Innovation and Technology for Ethiopia, Getahun Mekuria, said the financial support from the UAE government, was provided through the Khalifa Fund for Enterprise Development.
Mekuria said it the fund would mainly engage enterprises in agribusiness, agro-processing, information and technology services, as well as firms in the energy and manufacturing sectors in Ethiopia.
He added that the latest financial agreement came as the Ethiopian government strengthened its endeavors to boost innovation at the heart of its development ambition.
The Ethiopian Prime Minister Abiy Ahmed, urged Ethiopian youth to harness the potential of innovation in science and technology so as to drive the country’s overall development ambitions.