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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Premier Inaugurates Lemi National Cement Factory

Prime Minister Abiy Ahmed (PhD) inaugurated the slated-to-be largest cement factory in the nation, Lemi National Cement, marking a significant milestone in the industry. With a daily production capacity of 150,000 quintals upon full capacity, it is slated to massively grow national production. At the inauguration ceremony held Saturday, September 29, Prime Minister Abiy Ahmed (PhD) applauded the speed, quality, and size of the site, adding its installed capacity is half of the industry's curr...


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IMF to Unlock $345m in Loans, Concluding Ethiopia Deals First Review

Alvaro Piris, chief of the International Monetary Fund's (IMF) staff team, struck a bullish tone completing a two-week visit to Addis Abeba — an optimistic shift from his language of despair over the past three years. The change follows the conclusion of the first review of a four-year program agreed upon with Ethiopian authorities. Members of his team, over 20, met with Minister of Finance Ahmed Shide, Central Bank Governor Mamo Mihretu, and the Prime Minister's macroeconomic and monetary...


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Ministry Upgrades Public Transport Terminal

Ministry of Transport and Logistics is undertaking an upgrade to the public transport terminal at the Asco Public Transport Terminal, one of the terminals in Addis Abeba city. The works include paving 6,000 square meters of concrete asphalt, temporary accommodation sheds and chairs for passengers, as well as guard house and office space renovation. The work will enable a 24-hour service upon completion. Seifu Kenfu, executive director of infrastructure at the Ministry, stated that the aim is to...


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