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Ethiopia: Authority avails 7,000ha of land for floriculture

The Ethiopian Horticulture & Agriculture Investment Authority (EHAIA) has announced that it has prepared 7,000ha of land for floricultural investment across four regions.

The feasibility studies and business plans, as well as previous experiences in the sector, will be used as criteria for selecting candidates that qualify to invest in the sector, according to Adugna Debela (PhD), deputy CEO of the Authority.

The Authority has made loan arrangements with the Development Bank of Ethiopia (DBE). Companies that make a 30pc down payment could get a 70pc loan from the bank, in addition to the priority given for self-financing investors.

Incentives have also been provided for local investors who wish to invest in floricultural production if they could deposit 25pc of the initial capital required.

To this effect, preliminary discussions have been conducted with investors from the Netherlands, while investors from the United States, Israel and India have expressed interest to invest in the sector.

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