Addis Ababa: The House of People’s Representatives (HPR) has officially endorsed several key agreements, including two draft loan agreements, an air transport services agreement, and an agreement to establish the African Finance Corporation.
According to Ethiopian News Agency, the two draft loan agreements, which include an 11.5 million Euro loan from the Italian government aimed at supporting environmental and green economy development, and a 50 million USD loan from the International Development Association for transforming the education sector, were unanimously approved. These loans are intended to enhance learning and teaching quality within Ethiopia.
Additionally, the air transport services agreement signed with the Government of Austria received unanimous approval. This agreement is expected to expand destinations, strengthen bilateral relations, and create opportunities for trade and employment between Ethiopia and Austria.
The draft proclamation regarding the establishment of the African Finance Corporation was approved with a majority vote, despite three abstentions. Deputy Government Whip Meseret Haile presented the details of these agreements to the House, emphasizing the importance of the loans for various sectors including agriculture, forestry, health, and urban development.
Meseret highlighted that the education sector transformation program is crucial for reforming teacher development and educational inputs, starting from the pre-primary level. She also noted that Ethiopia’s membership in the African Finance Corporation would greatly contribute to the nation’s economic activities by providing financial support for the private sector, industries, and infrastructure development.
Finance State Minister Eyob Tekalegn assured HPR members that the agreements consider the country’s economic growth and that the government will strengthen its support and monitoring mechanisms to ensure proper utilization. The state minister further explained that becoming a member of the African Finance Corporation would enhance Ethiopia’s financial capacity, particularly in mining and industrial investments, and support efforts towards the continental free trade area.