Addis Ababa- The International Finance Cooperation (IFC), member of the World Bank Group, announced it will lend up to 90 million Euros to Afriflora Group, a large-scale rose grower and distributor based in Ethiopia.
In a statement it issued, IFC said that the funding will support Afriflora’s plan to expand production by 60 per cent, install water recycling systems and increase employment by more than 50 per cent.
He said: “The horticulture industry holds great potential for creating jobs, generating economic growth, and reducing poverty. Ethiopia’s climate, land and water resources can make it a strong competitor in the European market for cut flowers, and this investment will help develop the logistics, cold storage and transport required to fulfill this potential. With IFCs support, Afriflora will strengthen its labor conditions, ensuring a safe, healthy and productive environment for its workforce in Ethiopia.”
Founded in 2004, Afriflora Group is a manufacturer and marketer of cut-rose products with a large scale production farm based in Ethiopia. The company’s main growing facility is located in Ziway.
Source: Ethiopian Herald
