ADDIS ABABA – Ethiopia and the UN Industrial development Organization (UNIDO) agreed to collaborate in support of the coffee value chain development project.
Agriculture Minister Oumer Hussein and UNIDO Ethiopia director Aurelia Calabrò signed the €10 million project agreement on Monday.
Coffee represents a vital part of Ethiopia’s economy, supporting the livelihoods of more than a quarter of the population.
The crop also generates up to 30% of the country’s foreign exchange earnings.
Despite its contribution to the economy, Agriculture minister Oumer said access to finance remains the major challenge for Ethiopian coffee growers, suppliers and exporters.
The technical and financial agreement’s objective is to ease this challenge, according to the Minister.
The objective aligns with Ethiopia’s plan to quadruple its annual coffee revenue by exploiting opportunities across the coffee value chain.
UNIDO Ethiopia Chief Calabrò said the partnership will help to identify investments in the coffee sector and provide support.
The Italy-financed project implements a partnership model for de-risking investments in the coffee sector, as per the Ethiopian Coffee and Tea Authority (ECTA).
It will have a major role in availing low-interest loans to increase the volume, Value and quality of the coffee, said ECTA’s General Director Adugna Debela.
UNIDO has been actively involved in the implementation of more than 300 projects covering a wide range of technical assistance since 1968.
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