Ethiopia, South Korea ink $1 Billion Financing Framework Agreement

In a move to bolster bilateral relations, Prime Minister Abiy Ahmed of Ethiopia and President Yoon Suk Yeol of South Korea have signed a $1 billion financing framework agreement. The signing ceremony took place today at the South Korean presidential office, where Prime Minister Abiy Ahmed was warmly received by President Yoon Suk Yeol.

The financing framework agreement, which targets various projects over the next four years, underscores the deepening partnership between the two nations. According to the Office of the Prime Minister, these projects aim to enhance cooperation in multiple sectors, reflecting the long-standing ties and shared interests between Ethiopia and South Korea.

During their bilateral discussions, both leaders expressed their commitment to further strengthening their countries’ relationship. Prime Minister Abiy Ahmed reaffirmed Ethiopia’s dedication to working collaboratively with South Korea, emphasizing the importance of their historic bond.
“I would like to thank President Yoon Suk Yeol for receiving us today. Our countries share a long history spanning over six decades, rooted in Ethiopia’s support during the Korean War,” Prime Minister Abiy stated on his social media channels.

The Prime Minister, accompanied by First Lady Zinash Tayachew, also visited the city of Chuncheon. There, they were warmly welcomed and paid tribute to Ethiopian veterans of the Korean War by laying a wreath at the monument and touring the Memorial Hall.

Prime Minister Abiy expressed his gratitude for the warm reception and his optimism for future collaboration. “I am confident that we will work together to further enhance our partnership,” he added