Ministry of Industry, KOICA Sign 10 Mil USD Agreement to Enhance Competitiveness of Leather, Leather Products

Ministry of Industry and Korea International Cooperation Agency (KOICA) Ethiopia office have signed an agreement to support a Project for Enhancing Competitiveness of Leather and Leather Products Industry in Ethiopia.

The project will be implemented for a period of four years, from 2022 to 2027 with a total budget of 10 million USD.

It is believed that the project will have an irreplaceable contribution to the national initiative being mobilized by the manufacturing sector under the theme:  ‘Let Ethiopia produce.’

State Minister of Industry, Tarekegn Bululta and Country Director of KOICA Ethiopia office, Lee Byunghwa signed the agreement.

KOICA and Ministry of Industry will mutually be engaged in the planning, coordination and implementation of the Project.

Promoting the leather and leather product industry in Ethiopia, increase the competitiveness of the leather and leather product industry as well as contribute to the job creation and economic growth of the country are the major objectives of the project.

The project is expected to benefit Small and Medium Enterprises engaged in the leather and leather products sector in productivity, capacity building, and infrastructure and market development.

It is to be remembered that KOICA has signed Memorandum of Understanding with Ministry of Finance to support two program areas in 2022 for the Ethiopian government and the project signed with Ministry of Industry is one of such programs.

Source: Ethiopia News Agency