UNIDO inks $28 mn deal to boost Ethiopia's textile & garment industry

08 Feb '24

1 min read

Pic: Ministry of Finance Ethiopia

Insights

The ministry of finance and UNIDO have entered a $28 million agreement to bolster Ethiopia's textile and garments industry.
Signed by state minister Semereta Sewasew and UNIDO's Calabro Aurelia Patrizia, the five-year project, financed with GEF collaboration, prioritises a circular economy in textiles through resource-efficient technologies.

The ministry of finance and UNIDO have inked a $28 million deal to bolster Ethiopia's textile and garments industry.

State minister of finance Semereta Sewasew and UNIDO country representatives Calabro Aurelia Patrizia signed the agreement recently.

Funded over five years in collaboration with GEF, UNIDO's portion amounts to $3 million.

The project will champion a circular economy in textiles by introducing resource-efficient technologies, as outlined by the finance ministry. The Ethiopian Textile Industries Development Institute will spearhead the implementation, aiming to bolster regulatory and institutional capacity in the sector.

During the signing ceremony, Semereta highlighted the government's strides in boosting the manufacturing sector and reducing imports. She expressed gratitude for UNIDO's ongoing support in Ethiopia's industrialisation journey.

UNIDO's commitment to capacity building and technical assistance in Ethiopia's industrial development remains steadfast. The organisation has prioritised support for the textile, leather, and agro processing manufacturing sectors, aligning with Ethiopia's industrial goals.

Fibre2Fashion News Desk (DR)

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