The United Nations Industrial Development Organization (UNIDO) announced on Monday that it is planning to support Ethiopia to build its infrastructure to attract more investments.
UNIDO said on Twitter on Monday that 71% of the 102m people million in Ethiopia are below 30; one third is living in extreme poverty.
Ethiopia is the second most populous country in Africa and its economy grows at 10% every year.
The country is in need of superior infrastructure to lure investments. This makes Ethiopia a prime candidate for the support offered by UNIDO's Program for Country Partnership (PCP).
UNIDO aspires to reduce poverty through Inclusive and Sustainable Industrial Development (ISID).
In 2018, UNIDO is implementing a portfolio of 677 projects with total programmable resources of $450,784,390, and $60,220,344 spent so far.
Most of the projects are in the three thematic priority areas of Inclusive and Sustainable Industrial Development (ISID), such as Creating Shared Prosperity, Advancing Economic Competitiveness and Safeguarding the Environment.