AfDB Approves $165.1m Grant to Ethiopia

Jul 10 , 2020


[ssba-buttons]

The board of directors of the African Development Fund (ADF) has approved 165.1 million dollars in grant funding to support Ethiopia’s response to the health and economic impacts of the Novel Coronavirus (COVID-19) pandemic. Approved on July 3, the funds will also be used for helping to ease fiscal pressure on the economy and help bolster Ethiopia’s COVID-19 National Emergency Response Plan. The Plan aims to expand social protection coverage for the most vulnerable, enhance the government's capacity to contain the virus outbreak, and address macro-fiscal imbalances, as well as cushioning the effects of the crisis on the private sector. The programme will increase the number of COVID-19 testing laboratories, train 45,000 health care workers in COVID-19 response, and aid in rolling out a risk-communication and community engagement strategy to raise awareness on transmission and prevention. The country’s health system remains weak, with only three hospital beds per 10,000 people. The package will assist in refurbishing 300 isolation centres, 34 treatment centres and 100 quarantine centres.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...