Housing Corporation Signs MoU With Global Trade and Finance to Boost Housing Dev’t in Ethiopia

Addis Ababa: Federal Housing Corporation has signed a Memorandum of Understanding (MoU) with the Global Trade and Finance to collaborate on housing development initiatives in Ethiopia.The agreement was formalized by Federal Housing Corporation CEO Reshad Kemal and his Global Trade and Finance counterpart KJ Lee today.Through this partnership, the corporation aims to access expertise and resources in project finance, house construction technology, and venture capital investment to address the country's housing shortage.Chairman of the Standing Committee on Urban and Infrastructure Affairs of the House of People's Representatives, Eshetu Teshome, observed the signing ceremony."This collaboration aligns with our strategic goals of expanding affordable housing and strengthening our financial position," Reshad Kemal said, adding that "We anticipate significant benefits from the institute's support, particularly in project financing."Lee also expressed optimism about the partnership, highlighting Ethiopia 's substantial development potential."We are eager to leverage our network of international companies to enhance profitability of the corporation and contribute to Ethiopia's housing sector," Lee stated.The MoU signifies a promising step towards addressing Ethiopia's housing challenges and fostering economic growth through public-private partnerships.Global Trade and Finance is a unique international investment and project development consulting firm. The firm brings over 25 years of experience in international transactions that include public, private and social institutions. The firm is flexible to the ever changing needs of this global economy and has excelled by being able to develop highly effective technology solutions while providing assistance to new ventures.Source: Ethiopian News Agency