Ethiopia and Italy have signed an Implementing Agreement to “Support job creation-oriented skills and infrastructures development”.
The Agreement was inked by the State Minister of the Ministry of Finance, Semereta Sewasew, and the Italian Ambassador to Ethiopia, Agostino Palese.
According to the Ministry of Finance, with this agreement, Italy commits to provide finance assistance for a total amount of 12 million euros (748 million Birr) comprising a 10 million euro loan and a 2 million euro grant.
The Project aims at supporting decent job creation by enabling the flow of skills, also involving Italian excellencies in improving production processes and access to markets, particularly for women and young people.
It will contribute to the national drive for employment of approximately 2 million new young people aspiring to enter the job market annually.
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.
