Ethiopia and KOICA sign a $20 million grant agreement to fund two development projects

March 11, 2022

KOICA is a governmental organization for Official Development Assistance (ODA) to enhance the effectiveness of South Korea’s grant aid programs to fight global poverty and support sustainable socio-economic development in developing countries.

The organization signed a $20 million MoU with Ethiopia to fund two developmental projects in line with Ethiopia’s 10-Year Development Plan. The grant agreement was signed by the State Minister of Ministry of Finance, Semereta Sewasew, and Country Director of KOICA Ethiopia Office, Lee Byunghwa.

The 1st project aims to enhance the leather and leather products sector competitiveness by creating a well-developed business incubation center. The first project will support SMEs in boosting their productivity, market link, and export performance.

The 2nd project aims to support community-led solutions to create socio-economic resilience for sustainable peace. The second project wants to enhance social-economic stability in conflict-affected areas through community-based peacebuilding and recovery processes and increased access to sustainable livelihoods.

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