The Italian government approved 22 million euros (1.2 billion birr) to assist Ethiopia's project to develop Bulbula, Bure, Yirgalem, and Ba’eker Integrated Agro-Industrial Parks across different parts of the country.
The loan agreement was signed by H.E. Mr. Ahmed Shide, Minister of Finance, and H.E. Mr. Luigi Di MAIO, Minister of Foreign Affairs and International Cooperation of Italy on behalf of the Federal Democratic Republic of Ethiopia and the Government of Italy respectively.
The allocated finance will be used to strengthen Rural Transformation Centres (RTCs), create jobs in the rural areas of the country, increase farmers’ incomes, boost export revenues, substitute imports of agro-processed goods and contribute to economic growth and structural transformation, the Ministry of Finance said.
