The company's business plan was described as an innovative business model that improves food security.
Ethiopia and France have had diplomatic ties since 1897.
Ethio Lease has previously delivered 60 tractors to Ethiopian farmers.
The reduced bid is a byproduct of the prohibition of foreign mobile banking services.
Two foreign banks are projected as the first foreign entrants into Ethiopia's banking sector.
Ethiopia and France also plan on working closely to tackle gender issues.
Experts focus on heritage preservation as part of efforts to combat climate change