Japan, Italy in Support of Entrepreneurs

Jan 26 , 2019

The governments of Japan and Italy are financing a women’s entrepreneurship project for 65 million dollars. The Women Entrepreneurship Development Project, which has been underway for the past year, focuses on creating job opportunities for women. The new funding will allow expansion of the program for two more years. Thus far, the project has provided 2.6 billion Br in loans to over 10,000 women. The new funding will add the city of Axum, Gonder, Assela and Dilla as beneficiaries of the project. The Development Bank of Ethiopia, through 12 Micro Finance institutions, is currently providing the loans in Addis Abeba, Adama, Bahir Dar, Dire Dewa, Hawassa and Meqelle. Beneficiaries of the project have shown a 44.8pc increase in their productivity, according to the World Bank. It also noted that 98pc of the women have been able to pay back their loans.