Germany announces €120mln covid-19 fund for Ethiopia
Monday, 04 May 2020 15:34
Germany announced a €120 million support package to help Ethiopia face the impact of the coronavirus pandemic. The information was revealed on April 30 by the Ethiopian News Agency (ENA).
The program is aimed at supporting the African country’s macroeconomic stability and safeguarding jobs in the textile industry. Part of the money will also be used to purchase medical products, in collaboration with the World Health Organization.
According to the German Embassy in Ethiopia, the investment falls within the partnership signed in December 2019 between the two countries to support Ethiopia’s ambitious economic reform program. The partnership targets the sectors of infrastructure investment, agriculture, and energy.
The International Monetary Fund saw Ethiopia’s growth at 3.2% in 2019-20 due to the pandemic, after 9% in 2018-19. The latest official data from May 3, reported a total of 133 covid-19 cases in Ethiopia, with 3 deaths and 69 recovered patients.
André Chadrak
Additional Info
- communiques: Non
- couleur: N/A
Live News
-
GEPetrol Lifts Aseng Gas Share to 32.55% Under Chevron-Financed Deal
04:59
-
African Banana Exports Rise 5% as Ghana Takes Lead
04:57
-
Zimbabwe Mining Earnings Rise in 2025 but Miss Long-Stated $12 Billion Objective
04:55
-
IFC to provide $30.6M guarantee for Orange Bank digital lending in Côte d’Ivoire, Senegal
19:32
-
Cameroon receives new bid for Alucam assets from Proalu parent Naxya Holding
19:04
-
ASKY requires digital customs declaration for passengers bound for Cameroon
18:17
-
Cameroon corporate equity drops 12.4% in 2024, hits 10-year low
17:37
-
Sunna Design set to secure CFA21.4bn solar lighting contract in Cameroon
16:27
-
DR Congo’s Fogec Launches Digital Platform for SME Financing
15:30
-
Algeria Waives IPO Fees for Startups Until 2028
15:17
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...
ECOWAS has provided CFA400 million to support refugee assistance in Togo. The funding targets the...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...
Equatorial Guinea increased GEPetrol’s stake from 5% to 32.55% in the Aseng Gas project. Chevron committed to finance the increase while retaining its...
African banana exports rose 5% to 753,000 tonnes in 2025, according to FAO estimates. Ghana recorded the fastest growth, increasing exports 27.72% to...
Zimbabwe generated $3.4 billion in mineral export revenues in 2025, excluding gold and silver, according to the MMCZ. Total mining revenues...
Nigeria issues 501bn naira bond to clear power sector arrears Institutional investors fully subscribed to inaugural PPSDRP offering Programme aims to...
Fela Kuti received a posthumous Lifetime Achievement Award from the Recording Academy He is the first African artist recognized by the Grammys...
Manovo-Gounda-St Floris National Park is one of the largest protected areas in Central Africa. Located in the northeastern part of the Central African...