Ethiopia obtained 17.9 billion Birr in the form of grant and loan over the past six months, the Ministry of Finance and Economic Development (MoFED) disclosed on Friday.

Public relations and information directorate director with MoFED, Haji Ibsa Gendo said the stated amount of grant and loan was secured from various governments and financial institutions. The sum exceeds that of same period last years by 36.2 percent, the director said. He attributed the increase to the discussions held with development partners on the five-year national Growth and Transformation Plan.

Over 20 billion Birr was earmarked to various poverty reduction programs over the stated period, the director said. Ethiopia has also signed a debt cancellation contract amounting to 74 million Birr the African Development Bank and the International Agricultural Development Fund in the stated period.

Meanwhile, the government of Canada has signed a $15.6 million grant for Ethiopia. State Minister of MoFED, Ahmed Shide and Canadian Ambassador to Ethiopia, Ms. Michele Levesque signed the agreement on Friday.

As per the agreement, the grant will be used to reinforce ongoing food security activities in Ethiopia.

ETV Reports