Ministry Inks a $28m Deal to Boost Textile Industry


Ministry Inks a $28m Deal to Boost Textile Industry

A 28-million-dollar project to advance the textile and garments industry was signed between the Ministry of Finance and the United Nations Industrial Development Organisation (UNIDO) last week. The project is financed by the Global Environmental Facility (GEF) with UNIDO contributing three million dollars. It will be implemented in the next five years under the Ethiopian Textile Industries Development Institute, through the introduction of resource-efficient technologies. Recycling waste within the industry to minimise losses in the production process is an area of focus while the initiative aims to boost regulatory and institutional capacity within the sector. UNIDO has been actively engaged in Ethiopia's industrial development efforts, particularly in textile, leather, and agro-processing manufacturing with its flagship Program for Capacity Partnership project aiming to strengthen value chains, create value additions and drive economic transition efforts. According to Semereta Sewasew, state minister for Finance, the initiative aligns with the government's ongoing efforts to boost the manufacturing sector and reduce import dependency.


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