Addis Ababa, March 8, 2022(Walta) – Memorandum of Understanding (MoU) of the grant agreement for two projects amounting to 20 million USD was signed between Ethiopia and Korea International Cooperation Agency (KOICA).
The MoU is signed with the objective of setting the framework for the implementation of KOICA’s 2022 grant program, which will further contribute towards achieving Ethiopia’s development endeavors based on the Ten Years Prospective Plan and Sustainable Development Goals.
According to KOICA Ethiopia Office’s, newly established country plan for support in Ethiopia, KOICA will start two projects support from 2022 onwards with a total budget of 20 million USD. For each project 10,000,000 USD is allocated.
The first project will help enhance the competitiveness of the Leather and Leather products sector in Ethiopia by establishing a well-developed business incubation center with full pledged support services to the emerging and existing small and medium enterprises (SMEs) in the leather and leather products sector cluster, increasing production, productivity and competitiveness of SMEs which will improve the export performance of the sector and developing well-established market and business linkages within and out of the clusters.
The second project is intended for a 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 peacebuilding and recovery processes and increased access to sustainable livelihoods.
The MoU was signed by Semereta Sewasew, State Minister of Ministry of Finance, and Lee Byunghwa, Country Director of KOICA Ethiopia Office.