Britain, the European Union and the World Bank have announced a plan to create 100,000 jobs in Ethiopia to help tackle the migrant crisis.
Two industrial parks will be built in the country at a cost of $500m (£385m).
Ethiopia, which proposed the plan, will be required to grant employment rights to 30,000 refugees.
UK Prime Minister Theresa May said the project would be a model for how to support poorer countries housing large numbers of migrants.
Ethiopia hosts more than 700,000 asylum seekers, mainly from South Sudan, Eritrea and Somalia.
The deal, which was announced on Wednesday at the UN summit on refugees in New York, will be funded by loans from the European Investment Bank (EIB) and grants from the UK and the World Bank.
As part of the agreement Ethiopia will grant refugees employment rights, which many currently do not have.
A number of the new positions will be reserved for Ethiopia's growing number of young jobseekers.
Mrs May said the project would be a model for how to support poorer countries shouldering the burden of refugees.
President of the European Investment Bank Werner Hoyer said Ethiopia is a stopping point for many of those making their way to Europe.
"Initiatives and projects like this provide people with a choice to stay closer to home and an opportunity for economic growth as well," he said.
Ethiopia currently hosts the largest number of refugees on the African continent. They are mainly from South Sudan, Eritrea and Somalia and many of them try to make the journey into North Africa and across the Mediterranean to Europe.