NAIROBI, Kenya- The United Arab Emirates (UAE) on Monday signed a grant agreement with Ethiopia worth US$100 million U.S. dollars to support major breakthrough in innovation and technology.
According to sources, the grant is mainly aimed at supporting the Ethiopian government’s efforts in the innovation and technology sectors.
According to the Ethiopian Prime Minister’s Office, the $100 million U.S. dollars grant agreement, which was signed in Ethiopia’s capital Addis Ababa, will boost the capacity of micro, small and medium enterprises, with actual emphasis placed on enterprises in the innovation and technology sectors.
Getahun Mekuria, Ethiopia’s Minister of Innovation and Technology, said the financial support from the UAE government, provided through the Khalifa Fund for Enterprise Development, will mainly support enterprises in agribusiness, agro-processing, information, and technology services, as well as firms in the energy and manufacturing sectors.
Last month, 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.