Ethiopia has unveiled an initiative to strengthen its coffee industry, a sector vital to the nation’s economy and identity. The project, titled “Support Ethiopian Agribusiness Development Operating in the Coffee Value Chain, through De-Risking Investments and Institutional Support to the Ethiopian Coffee and Tea Authority,” was launched at the Skylight Hotel in Addis Ababa.State Minister of Finance, Ms. Semereta Sewasew, highlighted the initiative’s significance, emphasizing that coffee is more than a commodity for Ethiopia. She expressed gratitude to the Italian government for financing the project, recognizing Italy’s longstanding partnership with Ethiopia.The initiative aims to address persistent challenges in the coffee sector, including limited access to finance, weak market linkages, and the need for value addition. Additionally, it seeks to ensure compliance with new international regulations, such as the European Union Deforestation Regulation (EUDR), to sustain Ethiopia’s coffee exports.A major component of the project is the development of a comprehensive coffee sector reform roadmap, which focuses on modernizing production, processing, and marketing systems to enhance global competitiveness. It also aims to increase private sector involvement in policy formulation, investment, and innovation.To support these goals, the initiative introduces a new credit line facility, managed by the Commercial Bank of Ethiopia (CBE), to provide affordable financing for coffee enterprises. The Ethiopian Coffee and Tea Authority (ECTA) will oversee implementation, offering technical assistance and policy guidance.Key dignitaries at the event included Agriculture Minister Girma Amente, Italian Ambassador Agostino Palese, AICS Director Michele Morana, and ECTA Director General Adugna Debela, alongside representatives from UNIDO and CBE.  (ICE ADDIS ABEBA)

Fonte notizia: Fana BC