Italy has formally pledged significant financial support for Ethiopia's critical infrastructure initiatives, underscoring a deepening of strategic economic cooperation between the two nations. This commitment was reaffirmed during high-level discussions in Rome, where an Ethiopian delegation led by Finance Minister Ahmed Shide met with Giancarlo Giorgetti, Italy's Minister of Economy and Finance. The talks focused on enhancing bilateral economic collaboration and securing international backing for Ethiopia's priority development projects.

A central pillar of Italy's renewed support is the Koysha Hydropower Project. During the meeting, Italy reiterated its dedication to assisting with the completion of this vital energy project, specifically addressing the remaining financing gap. Both sides acknowledged the substantial progress already achieved in advancing refinancing efforts and securing new financial arrangements. They expressed confidence in finalizing the outstanding steps required for full financial closure within the coming months, signaling a concerted effort to ensure the project's successful conclusion.

Beyond the Koysha project, discussions also extensively covered potential collaboration on the ambitious Bishoftu Airport project, recognized as a flagship national infrastructure initiative for Ethiopia. The Italian delegation lauded the robust performance of Ethiopian Airlines, a key player in the nation's economic landscape, and confirmed its intent to support the financing of selected components of the airport through its established financial institutions. To operationalize this support, both parties agreed to promptly initiate detailed technical discussions. These talks will involve the Ethiopian Airlines Group, alongside financial and technical advisors, with the objective of developing precise financing structures and implementation modalities.

In a broader demonstration of its commitment, Italy also agreed to provide financing for Ethiopia's comprehensive development policy program. This support is set to be coordinated with the World Bank's budget support initiative, offering crucial backing for Ethiopia's ongoing macroeconomic reform agenda. The Ethiopian delegation for these pivotal discussions also included Ambassador Demitu Hambisa, Ethiopia's representative to Italy, along with other senior officials from both the Ministry of Finance and the Ethiopian Airlines Group.

The high-level meeting concluded with a mutual reaffirmation of the strong commitment from both Italy and Ethiopia to further deepen their bilateral relations. Both nations are dedicated to advancing strategic initiatives designed to foster sustainable and inclusive economic growth across Ethiopia, solidifying their partnership for future development.