Lifeline in Ethiopia with new financing scheme

LONDON – Authorities in both the United Kingdom and Germany have established a fund that will provide subsidies to companies in Ethiopia’s textile and garment manufacturing industry.  

An initial £5 million has been invested in the initiative at its launch-stage, and will be apportioned to applicants which demonstrate both that they’ve endured an economic shock amidst the COVID-19 pandemic, and that they have a robust recovery plan as to ensure the money isn’t dispersed in vain.