Ethiopia, Italy sign €12mln worth of Implementing Agreement to support job creation

Addis Ababa, January 24, 2024 (FBC) – Ethiopia and the Republic of Italy signed the Implementing Agreement to “Support to job creation-oriented skills and infrastructures development”.

With this agreement Italy commits to provide finance assistance for a total amount of €12 million (748 million Birr) comprising €10 million loan and €2 million grant, according to the Ministry of Finance.

The Project aims at supporting decent job creation by enabling the flow of skills, also involving Italian excellences, for improving production processes and access to markets, particularly of women (min. 50%) and young people. It will contribute to the national drive to respond to the demand for employment of the approximately 2 million new young people who annually aspire to enter the job market. Specifically, the agreement will finance infrastructural interventions to create a Skill Park in Addis Ababa, inclusive of a Centre of Excellence for Fashion and Design, and an enterprise Incubator/Hub in Jimma.

The agreement was signed by Ms. Semereta Sewasew, State Minister for Finance at the Ministry of Finance of Ethiopia and Agostino Palese, Italian Ambassador to Ethiopia.