Saturday, February 24, 2024
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EIIDE supplies 258m birr of inputs to industry

The Ethiopian Industrial Input Development Enterprise (EIIDE) says it has supplied 258 million birr worth of industrial inputs in the first seven months of the budget year.
The enterprise was formed under regulation 328/2014 by the Council of Ministers. It replaced the Merchandise Wholesale and Import Trade Enterprise (MEWIT). Its mandate was to make sure the manufacturing industry, which was under financial constraints because they had to manage a large amount of stock, had enough inputs which were in short supply. Since its establishment the Enterprise has supplied inputs to many industries including textiles and garments, leather and agro-processing. In the first seven months of this fiscal year, EIIDE supplied cotton, hides and skins, industrial salts, and wheat worth 201 million birr to industries, according to its statement.
From the stated products, a total of 1,492 tons of cotton worth 50 million birr was distributed to textile industries, while a total of 1.7 million hides and skins was delivered to leather industries.
Industrial salt, mainly used by leather industries was also distributed. Close to 80 million birr of wheat was also distributed to factories.
Products could be purchased locally or imported, for example cotton is collected from both sources.
In November EIIDE stated it allocated over two billion birr to provide more support for the textile and garment sector by alleviating input shortages of yarn and cotton.
For the year EIIDE plans to supply inputs worth 400 million birr to the textile sector and 600 million birr worth of chemicals.
EIIDE plans to allocate up to 500 million birr to the agro processing sector and for salt, used by the textile and leather sector, about 200 million birr.
EIIDE supports large and small scale industries. In the past couple of years it has spent over one billion birr to supply inputs. Initially it commenced operation by supplying inputs for the textile and garment sector and then expanded to the leather sector.
It also plans to commence providing inputs that include chemicals and metals.

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