ADDIS ABABA – The Ethiopian Railway Corporation (ERC) and COIPA Capital have inked a Memorandum of Understanding (MoU) to advance initiatives and projects.
The ERC and COIPA Capital signed the MoU yesterday to contribute meaningfully to Ethiopia’s economic growth and infrastructural development.
Speaking at the signing ceremony, ERC Deputy CEO Getu Gizaw (Eng.) said that the ERC and COIPA Capital will work together to advance critical initiatives, including logistics port projects and others in order to enhance country’s connectivity to international markets by developing modern, efficient, and integrated port logistics infrastructure.
The projects reflect ERC’s commitment to fostering economic growth, strengthening regional integration, and ensuring sustainable development. “This collaboration demonstrates the power of partnerships in achieving ambitious goals and addressing the challenges of our time. We aim to create world-class logistics and railway systems that drive economic growth,” He said.
“As we formalize this agreement today, I am confident that the synergy between ERC and COIPA Capital will yield tangible results that benefit not only our organizations but also the broader Ethiopian community. Let this be the beginning of a fruitful and enduring relationship.”
According to him, the projects are expected to create thousands of jobs, strengthen ties between Ethiopia and European industries, advance training programs and others.
For his part, COIPA CEO Vito Favorito Sciammarella (PhD) pointed out that his company’s commitment to bring the best European expertise and financing solutions to support Ethiopia’s ambitious infrastructural development goals.
The MoU with COIPA Capital will provide technical, financial, and advisory support, leveraging its extensive experience in structuring and financing large-scale industrial parks. It will attract international investors, secure financing via international banks and export credit agencies, enhance the country’s capacity to design, construct, and manage large-scale infrastructure projects, it was learnt.
BY TSEGAYE TILAHUN
THE ETHIOPIAN HERALD FRIDAY 13 DECEMBER 2024
