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AfDB Country Director Meets Finance Minister


AfDB Country Director Meets Finance Minister

The newly appointed African Development Bank (AfDB) Country Director for Ethiopia met with Minister of Finance Ahmed Shide last week, signing a one million dollar Grant Agreement to support communities affected by recent floods and landslides. Ahmed emphasised the crucial role the AfDB has played in supporting Ethiopia's development efforts, particularly in the infrastructure sector. He stressed the government's need for continued assistance from the Bank to advance its reform agenda. Leandre Bassole (PhD) acknowledged Ethiopia's progress and reaffirmed the AfDB's long-standing commitment to supporting the country's development. He assured the Minister of the Bank's dedication to exploring new financing opportunities and strengthening its partnership with Ethiopia. Bassole came after a serious diplomatic matter where two international staff of the Bank Group based in  Ethiopia were severely assaulted by security agents six months ago was resolved.

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Radar

Parliament Receives $237m Development Loan Package

The Council of Ministers forwarded two concessional loan agreements totalling 237.3 million dollars to Parliament for ratification, targeting rural infrastructure and food security. The package includes 46.3 million dollars from the African Development Bank (AfDB) for climate-resilient infrastructure in pastoralist regions. A second credit facility of 191 million dollars (146.1 million SDR) from the International Development Association (IDA) is earmarked for the sixth phase of the Productive Sa...


Radar

MoTRI to Overhaul Consumer Protection Rules Following Cabinet Approval of Trade Policy

The Council of Ministers, led by Prime Minister Abiy Ahmed (PhD), approved Ethiopia's first unified trade policy last week, ending a three-year deliberation period to fill a decades-long regulatory vacuum,. This institutional milestone mandates the Ministry of Trade & Regional Integration (MoTRI) to overhaul consumer protection frameworks, specifically requiring a rigorous revision of the Trade Competition and Consumer Protection Proclamation to eliminate market distortions and the prolifera...


Radar

Regional Power Exports Yield $366m as Capacity Hits 9.6GW

Ethiopian Electric Power (EEP) generated 365.99 million dollars from regional exports in the first nine months of the fiscal year as national capacity reached 9,579MW. The revenue followed the sale of 24,940GWh, representing 91pc of gross generation. Hydropower remains dominant, providing 9,500MW. To diversify assets and mitigate climate risks, the utility integrated the 100MW Asela Wind Power Project. The transmission network has expanded to 148,600km to secure domestic industrial supply and...