In a drive to boost innovation and technology in africa United Arab Emirates has offered Ethiopia a grant of $100m to help boost the government’s efforts in that sector.
The 100 million dollars grant agreement, which was signed in Addis Ababa,on monday mainly envisaged to boost the capacity of micro, small and medium enterprises.
Ethiopian Prime Minister’s Office, said a particular emphasis is been given to enterprises in the innovation and technology sectors.
Ethiopia’s Minister of Innovation and Technology, Getahun Mekuria, said the financial support from the UAE government,was provided through the Khalifa Fund for Enterprise Development.
Mekuria said it the fund would mainly engage enterprises in agribusiness, agro-processing, information and technology services, as well as firms in the energy and manufacturing sectors.
He added that the latest financial agreement came as the Ethiopian government strengthened its endeavors to boost innovation at the heart of its development ambition.
The Ethiopian Prime Minister Abiy Ahmed, urged Ethiopian youth to harness the potential of innovation in science and technology so as to drive the country’s overall development ambitions.
Al Nowais From UAE stated, “The signing of this agreement with Ethiopia falls in line with the vision of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, to strengthen cooperation and maintain friendly and strategic partnerships with various countries around the world. It also complements the directives issued by H.H. Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to continuously maintain strong ties with brotherly and friendly countries while also helping them in promoting their economies, which in turn can drive in key growth for the benefit and wellbeing of their people.”