US to launch $20 mln project to promote Ethiopian rural economy

Sept 18, 2006 (ADDIS ABABA) — The United States is to launch tomorrow a twenty millions USD project to help the Ethiopian rural economy and employment.

The United States would continue supporting the private sector through the US Agency for International Development with a view to increasing rural incomes and employment.

“Agribusiness Project” would be officially launched on Tuesday in the presence of concerned ministries and associations.

The project would provide technical support to increase productivity of coffee, flowers, leather and oil seeds.

The project would last for five years and is expected to enable the country to obtain 450 million USD in the first three years and aims to increase it to 1 billion USD after five years.

According to the American Embassy and the USAID executive officers, some 20 million US Dollars is earmarked for the execution of the project.

The project would be executed in Oromia, Amhara, Tigray as well as South Ethiopia Peoples’ State.

(ST)