Ministry, KOICA Ink $10m Devt Project Financing Deal

ADDIS ABABA – The Ministry of Peace and South Korea’s cooperation agency signed a 10 million US Dollar agreement to support a development project in Ethiopia.

The project aims to implement a community-led solution for inclusive socio-economic resilience towards sustainable peace in conflict affected areas of the country.

Peace Minister Benalf Andualem and Country director of Korea International Cooperation Agency (KOICA), Lee Byunghwa, signed the agreement on Tuesday.

KOICA and the Ministry of Peace will mutually be engaged in the planning, coordination and implementation of the four-year Project, beginning this year.

The project will support area-based gender-responsive, community-based peace-building and recovery processes and increased access to sustainable livelihoods in 10 districts.

It will also plan to enhance the economic status of vulnerable communities by facilitating opportunities for on-farm and off-farm interventions as well as increased access to finance.

The Korean aid agency which has been supporting the development of Ethiopia for the last 27 years, focusing on manufacturing, health, climate change and peace.