Ethiopia’s Council of Ministers has approved draft proclamations for two major loan agreements totaling €190 million, aimed at supporting the country’s economic reform agenda and expanding access to microfinance.
In its 54th ordinary meeting, the Council endorsed an €80 million loan from the French Development Agency to support the National Economic Reform Plan, alongside a €110 million loan from the European Investment Bank for a nationwide Microfinance Programme.
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The Council confirmed that both agreements align with Ethiopia’s debt management policy and forwarded them to the House of People’s Representatives for final approval.
Beyond financing, the Council approved an investment agreement tied to a planned urea fertilizer manufacturing project, aimed at reducing import dependency, easing foreign exchange pressure, and boosting agricultural productivity.
It also reviewed a draft cybersecurity proclamation focused on protecting critical infrastructure from digital threats, which will be submitted to parliament with additional inputs.
In a move to deepen international ties, the Council endorsed multiple bilateral agreements, including visa exemptions for diplomatic passport holders with Vietnam and Russia, as well as air service agreements with Eswatini, Angola, Bangladesh, and Sierra Leone to expand international aviation access and trade opportunities.
The Council also approved a regulation establishing a national fire and emergency services framework to strengthen disaster prevention and response systems.
