Ethiopia's Finance Minister Ahmed Shide has secured a significant financial commitment to boost rural development, announcing a $110 million package from the European Investment Bank (EIB) to expand access to finance for farmers and rural communities.

The commitment, which came during high-level meetings this week with top EIB and EU Commission officials in Washington, D.C., will fund the third phase of the Rural Financial Intermediation Program (RUFIP III). This flagship initiative is critical for driving financial inclusion and accelerating the nation’s agricultural transformation efforts.

Minister Ahmed held talks with Thouraya Triki, EIB Director for International Partnerships, and Marjeta Jäger, Deputy Director-General of the EU Directorate-General for International Partnerships, on the sidelines of the World Bank and IMF Annual Meetings.

Beyond the major financial commitment, the minister commended the EIB’s continued engagement across key sectors, including finance for Small and Medium Enterprises (SMEs), Water, Sanitation, and Hygiene (WASH) projects, and women’s entrepreneurship development. He also outlined priority areas for future EIB support, notably the Rural Inclusive and Sustainable Economic Development (RISED) Initiative and manufacturing sector financing. Discussions with the EU Commission focused on strengthening cooperation on vital regional infrastructure corridors and supporting Ethiopia’s ongoing economic reform programs. The series of engagements underscores the shared commitment between the Government of Ethiopia and EU institutions to deepen their partnership and accelerate inclusive economic growth.