By The Africa Report The United States Agency for International Development (USAID) late Tuesday granted Ethiopia a $675 million grant for economic and social development.
Map of Ethiopia
The financial support, due to take effect in the next five years, is expected to help Ethiopia boost its Growth and Transformation Plan, which aims to alleviate poverty.
The funds will mainly go to implementing Ethiopia's strategies in agriculture, health and education, focusing on improving service delivery and governance.
Ethiopian Finance and Economic Development State Minister Ahmed Shide and USAID Mission Director to Ethiopia, Tomas Staal signed the accord on behalf of their respective governments.
Ahmed Shide said the funds would help improve service in the education and health sectors as well as increase productivity in the agriculture sector.
Staal said the finance would be channelled into development and humanitarian assistance in the first year of the new five-year Country Development Cooperation Strategy.
"The mutually agreed upon goals for programs in education, health, agriculture, and good governance closely complement Ethiopia's Growth and Transformation Strategy.
"The USAID strategy also addresses cross-cutting issues in all its programs covering the status of girls and women, the inclusion of the disabled, water, nutrition, conflict mitigation, and social accountability," USAID said in a statement.
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