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Korea Agency Puts up $5m for COVID-19 Resilience

Sep 19 , 2020

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Korea International Cooperation Agency (KOICA) has donated five million dollars to Ethiopia to bolster the response toward the ongoing fight against the Novel Coronavirus (COVID-19) pandemic in the country. The Ministry of Trade & Industry signed a virtual memorandum of understanding with KOICA for the production of personal protective equipment (PPE) as a means of retaining jobs in small and medium enterprises working in leather and leather product production. Half a million dollars of the funds will be directed to repurposing these industries and enabling them to produce PPE. In addition to the initiative, the funds will finance awareness creation campaigns in the rural parts of the country regarding the containment measures of COVID-19. KOICA was established in 1991 by the Korean government to maximise its grant aid programmes for developing countries.

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New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...

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City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...

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Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...

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