Ethiopia signs grant agreement with South Korea’s International Cooperation Agency

Ethiopia and South Korea have signed an agreement for a 32 million USD grant to be provided by the Korean International Cooperation Agency (KOICA). The grant is going to support Ethiopia’s Ten Year National Development Plan.

The agreement was signed in a ceremony held earlier this week by Ethiopia’s State Minister of Finance Yasmin Wohabrebbi and KOICA Country Director Kim Dong Ho. The agreement is going to support three projects within the coming five years. 

The projects include rural agricultural value chain improvement through linking small farmers with rural transformation centers, implementing climate resilient forest and landscape restoration, and a watershed development plan for Addis Ababa city, cleaning upstream of Sheger river. The grant amount is the highest that the South Korean government has allocated to Ethiopia.

Yasmin on her part said that the agreement signed today marks the hard work and close coordination between the governments of the two countries. 

She also affirmed that the existing cooperation between the countries is indicative of the mutual respect that exists between the two countries, as well as their shared interest in creating a more sustainable partnership.

ENA

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