Ethiopia and KOICA (the Korea International Cooperation Agency) have inked a $20 million grant agreement for enhancing social and economic productivity via two projects, in line with the Sustainable Development Goals' (SDGs') 10-year perspective plan.

The first project aims to enhance the leather sector's competitiveness in Ethiopia by starting a business incubation center for small and medium enterprises involved in leather works. It is hoped that this will better the chances of the SMEs in leather export, as well as in establishing business linkages.

The other project targets supporting community-led solutions for inclusive socio-economic resilience towards sustainable peace in conflict-affected areas. It is said this project will have a role to play in cementing social cohesion, as well as economic resilience in affected communities through the area-based and community-based peacebuilding and recovery processes and increased access to sustainable livelihoods.

Signing the agreement were Semereta Sewasew, Ethiopia's State Minister of Finance and Lee Byunghwa, Country Director of KOICA Ethiopia Office.

Source: Ministry of Finance