KOICA plans to enhance economic cooperation with Ethiopia

KOICA plans to enhance economic cooperation with Ethiopia: President

Addis Ababa, November 17, 2023 (FBC) – Ms. Semereta Sewasew, the State Minister of Finance, welcomed the President of the Korea International Cooperation Agency (KOICA), Mr. Kang, Won Sam, to discuss the strengthening of cooperation between Ethiopia and KOICA.

During the meeting, both parties discussed KOICA’s future cooperation areas in Ethiopia, which include increasing manufacturing capabilities, strengthening healthcare services, enhancing climate change response, promoting resilience and social integration with a gender-sensitive approach, and developing watersheds and human sectors.

KOICA has been a significant long-term development partner in Ethiopia and has pledged to increase its support by 40% compared to previous periods.

The State Minister of Finance expressed her gratitude for KOICA’s continued support in Ethiopia, which has amounted to approximately $294 million in Official Development Assistance (ODA) to date. In 2023, KOICA has budgeted around 30 million USD, increasing its support by 36% compared to the previous year.

Both parties agreed to work closely together to ensure that KOICA’s support in Ethiopia remains effective and beneficial for the country. The discussion also touched on ongoing challenges associated with the current situation in Ethiopia.

Semereta expressed her optimism towards the future of Ethiopia and appreciated KOICA’s commitment to supporting its development agenda.

This partnership is a welcome development for Ethiopia, and it is hoped that it will strengthen the cooperation between the two parties in the coming years.