Ethiopia, Korea sign over $27m financing agreement

Addis Ababa, February 27, 2020 (FBC) –Ethiopia and Korea have signed three memorandums of understanding (MoUs) that enable the latter to provide a total of $27.6 million to assist Ethiopia’s socio-economic development activities.

According to the MoU, the first agreement, amounting $10 million, will be used to create quality jobs through provision of support for ICT based business and small and medium enterprises (SMEs) over the coming six year.

The second agreement, amounting $8 million, is capacity development for TVET leaders and trainers in Ethiopia.

The third agreement, amounting $9.6 million, is to finance a project for optimizing care for newborns and children in Benishangul Gumz and Afar regional states for the coming 5 years.