EU, Ethiopia sign a 2.2B Birr worth program to support MSEs in post-conflict areas

Addis Ababa, May 15, 2024 (FBC) – The European Union and its partners have announced a program worth 2.2 billion Birr to support business recovery and social cohesion in post-conflict areas of northern Ethiopia..

The program aims to help restore the local economy and rehabilitate small and medium-sized manufacturing industries, according to the Ministry of Industry.

It also aims to provide improved financing support to small and medium-sized industries in northern Ethiopia.

It is believed that this initiative will aid the manufacturing industries impacted by the conflict and those engaged in the agricultural processing sector to resume their production and enhance productivity.

Minister of State for Industry, Hasen Muhammed, highlighted during the event that the program demonstrates the ongoing support from the European Union, the Netherlands, and Germany in crucial sectors.

Ministry data also underscores its significant role in generating employment opportunities for women and youth.

Roland Kobia, Ambassador of the European Union to Ethiopia, emphasized that supporting manufacturing industries plays a crucial role in enhancing social cohesion, facilitating economic recovery, and fostering peace.