ADDIS ABABA: The United Kingdom is contemplating a substantial increase in its bilateral assistance to Ethiopia next year, as stated by the British Ambassador to Ethiopia, Darren Welch, in an interview with ENA.
According to Ethiopian News Agency, "We are looking to increase our bilateral assistance may be more than doubling it next year," Ambassador Welch revealed. This increase in support aims to bolster trade and investment in Ethiopia, aligning with the Ethiopian Government's initiatives to reform the economy and improve the business environment.
The ambassador emphasized the importance of a strong business environment in Ethiopia for the success of these endeavors. The UK's commitment to enhancing the bilateral relationship includes active engagement in assisting Ethiopia to secure financial restructuring aid from the International Monetary Fund (IMF) and the World Bank. This support is crucial for Ethiopia's macroeconomic stability and continued economic growth.
Welch described the longstanding relationship between the UK and Ethiopia as one based on respect and partnership. The UK's support extends beyond financial restructuring, encompassing various development efforts in Ethiopia, especially in healthcare, education, humanitarian assistance, and social protection.
The ambassador highlighted the UK's active role in supporting Ethiopia's extensive reform agenda in education and its financing of safety net programs. The enduring relationship between the UK and Ethiopia spans over 165 years, reflecting a deep and multifaceted partnership.