April 17, 2024
Industry

Ethiopia Gets $28mn From UNIDO To Promote Textile Sector

Ethiopia signed a US $28 million agreement with the United Nations Industrial Development Organization (UNIDO) to promote growth of the Ethiopian textile and apparel industry.

The project will be financed in collaboration with the Global Environmental Facility (GEF) of which UNIDO’s share of the program is $3 million.

Over the next five years, the Ethiopian Textile Industries Development Institute will spearhead the implementation of the project.

The primary objectives of this initiative extend beyond mere industrial advancement.

The endeavour seeks to stimulate economic growth within the sector, foster technological innovation, and mitigate environmental impact by reducing waste through recycling.

State Minister of Finance, Semereta Sewasew and UNIDO representative in Ethiopia, Calabro Aurelia Patrizia signed the agreement.

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