Ethiopia-Economy

South Korea announces $27.6 m financial aid to Ethiopia

APA-Addis Ababa (Ethiopia)

South Korea on Thursday announced a total of $27.6 million financial assistance to Ethiopia’s socio-economic development activities.

Accordingly, the two countries signed three memoranda of understanding (MoUs) on how the money will be used.

The first agreement, amounting to $10 million, will be used to create quality jobs through the provision of support for ICT based business and small and medium enterprises (SMEs) over the coming six years.

The second agreement, amounting $8 million, is for capacity development for TVET leaders and trainers in Ethiopia.

The third agreement, amounting $9.6 million, is to finance a project for optimizing care for newborns and children in Ethiopia's Benishangul Gumz and Afar states for the next five years.


MG/as/APA

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