AfDB Approves $165.1m Grant to Ethiopia

Jul 10 , 2020


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

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email