Ethiopia, Italy Sign Agreement to Support Job Creation

Addis Ababa: Ethiopia and Italy have signed Implementing Agreement to 'Support to job creation-oriented skills and infrastructures development'. The Agreement was inked by State Minister of Ministry of Finance, Semereta Sewasew and Italian Ambassador to Ethiopia, Agostino Palese. According to Ministry of Finance, with this agreement, Italy commits to provide finance assistance for a total amount of 12 million euros (748 million Birr) comprising 10 million euros loan and 2 million euros grant. The Project aims at supporting decent job creation by enabling the flow of skills, also involving Italian excellencies for improving production processes and access to markets, particularly of 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. Source: Ethiopian News Agency