The Ethiopian Enterprise Development (EED) is actively engaged in fostering the establishment of new ventures to cultivate enterprises that contribute to foreign currency generation. During a recent stakeholder discussion, EED Director General Alebachew Nigussie (PhD) emphasized the organization's collaborative endeavors with partners to enhance the productivity of existing enterprises, with a particular focus on the manufacturing sector.

To address the financing challenges faced by manufacturing enterprises, EED's partner, the Development Bank, is diligently working towards viable solutions. In the fiscal year 2022/2023, a substantial service support budget of USD 132.8 million which is provided by the World Bank is set aside specifically for manufacturing enterprises.

In order to address the issue of workspace availability, EED has proactively allocated 3,700 hectares of land, paving the way for enterprises to establish their operations. Additionally, the organization collaborates closely with relevant stakeholders to overcome the challenges posed by electricity shortages and resource constraints.

Source: Fana BC