MoA, UNIDO ink €10mln project agreement to facilitate loans to coffee investors

Addis Ababa, October 31, 2022 (FBC) – The Ministry of Agriculture-Ethiopia (MoA) and UNIDO inked a cooperation agreement worth of €10 million to facilitate loans to stakeholders engaged in coffee value chain.

Oumer Hussein, Minister of Agriculture, and Aurelia Patrizia Calabrò, Director & Representative of UNIDO Ethiopia, signed the agreement.

The Minister of Agriculture mentioned that financial constraints are a major obstacle for coffee exporters, suppliers and producers.

He said that the technical and financial cooperation agreement made with United Nations Industrial Development Organization will alleviate the problem.

Aurelia Patrizia Calabrò, on her part, said that the cooperation will help to identify and support stakeholders engaged in coffee investment.

Ethiopian Coffee and Tea Authority Director General, Adugna Debela, stated that the project is a partnership model that reduces the risk of investments in the coffee sector in Ethiopia.

He pointed out that the project will play an important part in providing access to low-interest loans to increase the quantity, quality and price of coffee.

The project is mainly expected to help coffee producers, suppliers and exporters.

According to the Ministry of Agriculture, the backing of €10 million allocated for the project was obtained from the Italian government.