Germany is to cancel a 67-million-euro ($88,68-million) debt owed by following an agreement signed in Addis Ababa on Monday between Ethiopian Minister of State for Finance and economic Planning Mulu Ketsela and German Federal Minister of State Kerstin Muller.
”By cancelling this debt, the German federal government is supporting Ethiopia’s economic reform and we expect that funds released by the agreement will be used to fight poverty, a key element of the UN development goals,” Muller said after signing the agreement.
”If economic growth continues at its current rate, Ethiopia has a good prospect of reaching the goals development goals by 2015,” Muller said.
”I welcome Ethiopia’s investments in education, agriculture and infrastructure, which are laying foundation for sustainable development and reduction of poverty in the country,” said Muller.
”We will continue to support Ethiopia, as our traditional close and amicable relations enter a second century,” he added.
Ethiopia and Germany are celebrating a century of diplomatic relations.
A German embassy statement said the latest move brought to 197-million euro ($260,74-million) Ethiopia’s debt cancelled by Germany since 1993. – Sapa-AFP