Ethiopia, IFAD Sign 106.4 Million Dollar Grant Agreement

Ethiopia and International Fund for Agricultural Development (IFAD) signed a grant agreement of 106.4 Million dollar financing agreement today.

Minister of Finance, Ahmed Shide, and the IFAD Regional Director of the Eastern and Southern Africa Division, Sara Mbango-Bhunu, signed the agreement.

The funding was provided by various development partners including IFAD (78.2 million dollar), the EU (17.84 million dollar and the ASAP Grant (10.5 Million dollar).

The proceeds from the grant will be used to finance the implementation of the participatory Agriculture and Climate Transformation (PACT) programme in Ethiopia.

The objective of the program is to enable 15,000 rural households in selected kebles to sustainable improve incomes, food and nutrition security and build resilience to climate shocks.

The Targeted beneficiaries will focus on women’s youth and persons with disabilities.

Source: Ethiopian News Agency