Ethiopia, KOICA sign a 20mln USD grant agreement

Addis Ababa, March 8, 2022 (FBC) – Ethiopia and the Korea International Cooperation Agency (KOICA) have signed a 20 million USD grant agreement for two projects in line with 10 year perspective plan and Sustainable Development Goals.

The first project will help enhancing the competitiveness of Leather and Leather products sector in Ethiopia by establishing well developed business incubation center for small and medium enterprises (SMEs) enaged in leather and leather products sector.

It is stated on the signing ceremony that the first project will also help enhance productivity and competitiveness of SMEs in the export area and develop well-established market and business linages within and out of clusters.

The second project is intended for Community-Led Solution for Inclusive Socio-Economic Resilience towards Sustainable Peace in Conflict-Affected Areas in Ethiopia.

The project contributes to enhancing social cohesion and economic resilience of displacement-affected communities through the area-based and community-based peace building and recovery processes and increased access to sustainable livelihoods, according to Ministry of Finance.

The MoU was signed by Semereta Sewasew, State Minister of Ministry of Finance and Lee Byunghwa, Country Director of KOICA Ethiopia Office.