Ethiopian Envoy, Korea Eximbank chief discuss funding prospects and strategic initiatives

Addis Ababa, December 16, 2024 (FMC) – Ambassador Dessie Dalkie, Ethiopian Ambassador to the Republic of Korea held a meeting with the Korea Eximbank Executive Director and Head of Economic Development Cooperation Fund Operation Group, Mr. Sung-yong Um.

The meeting, according to the Ethiopian Embassy in Seoul, was convened to discuss the current state of economic cooperation between Ethiopia and the Republic of Korea, with a particular focus on the projects funded by the Korea Eximbank’s Economic Development Cooperation Fund (EDCF). The discussion aimed to explore opportunities for further collaboration, funding prospects, and strategic initiatives beneficial to both parties.

During the discussion, Ambassador Dessie Dalkie requested the Korean Exim bank Executive Director and Head of ECDF to provide a brief overview of the ongoing projects supported by the EDCF in Ethiopia, emphasizing the positive impact these projects have had on local infrastructure, healthcare, and education.

Additionally, the ambassador inquired the executive Director about the availability of additional funding opportunities and whether there were new financial instruments in development that could better serve emerging projects.

The Korea Eximbank’s Economic Development Cooperation Fund Executive Director, Mr. Sung-yong Um, for his part, highlighted key EDCF projects, praising the commitment of Ethiopia towards fulfilling the terms of the agreements and the successful implementation of various initiatives. He also mentioned some challenges in procurement of consultants and contractors faced in project implementation.

Ambassador Dessie Dalkie acknowledged these concerns and suggested collaborative workshops to enhance local capabilities and streamline procedures for project execution.

Finally, the meeting concluded on a positive note, with both parties expressing optimism about future collaboration.

The Embassy indicated that both dignitaries agreed to set up a follow-up meeting within the next quarter to discuss the outlined initiatives further and to finalize plans for upcoming projects.