The Ethiopian Ministry of Agriculture and Natural Resources with support from the European Union and Germany launched a 3.8 million euro project to support responsible agricultural investment in Ethiopia.
According to a statement from the European Union office in Addis Abeba, the project will contribute to establish an accountable, conducive and transparent framework for socially and environmentally responsible and productive agricultural investments benefiting local communities and economies. The project will also support the development of a regulatory framework for equitable access to land and secure land tenure for all segments of Ethiopian society while establishing mechanisms to facilitate productive investments in agriculture by national and international private investors.
It added that large-scale agricultural investments in Ethiopia are expected to bring foreign currency and transfer technology to the country. Local communities will benefit from employment, technology and infrastructure related to these investments. Proper design, implementation and monitoring of investment projects will lead to the achievement of these objectives.