Ethiopia, KOICA sign $32m grant agreement

Addis Ababa, March 23, 2021 (FBC) – Ethiopia and the Korea International Cooperation Agency (KOICA) have signed a grant agreement amounting to $32 million for the implementation of three projects.

The agreement was signed here today by Yasmin Wohabrebbi, Ethiopia’s State Minister of Finance and Dong Ho Kim, Country Director of KOICA Ethiopia office.

The three projects, which focused on improving rural agricultural value chain, climate resilient forest restoration, and supporting watershed development will be implemented in the coming five years (2021-2025).

Yasmin on the occasion said Korea has proved to be a true friend of Ethiopia over the years and added “today’s event also marks hard work and close coordination between the governments of Ethiopia and South Korea.”

The climate resilient forest and landscape rehabilitation project aims to improve climate resilience and support national green growth which envisioned benefiting 11,100 households, consisting of 55,000 people.

The rural agricultural value-chain improvement project aims to reinforce the agricultural value chain in the Amhara regional state and accelerate the development of rural economy.

Similarly, the watershed development project will make significant contributions to beautifying Addis Ababa city.