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African Development Bank Obtain $90m Project to Support Agricultural Efforts


African Development Bank Obtain $90m Project to Support Agricultural Efforts

The production of wheat through an irrigation scheme foresees support as the Africa Development Bank plans to intervene in the agricultural sector with a 92-million-dollar project which is expected to increase private sector engagement, creating job opportunities for the youth in the selected areas. Planned discourse in a meeting that saw the attendance of Semereta Sewasew, state minister for Finance, Pascal Sanginga (PhD), head of the East African Development Bank division for agriculture and Lanchen Ennali, chairman of OCP Group, a leading phosphate producer, occurred. Semerta briefed the current opportunities and challenges of wheat production, one of the main staple grains vital for food security and income generation of smallholder farmers. She also pointed out the work done to improve productivity and quality of production through improved seeds, fertilizers, irrigation, mechanization, extension services, and market linkages. Pascal assures the continuity of African Development Bank aid in the second compact program, which sought to augment food security endeavours in the continent. Lanchen also pledged to extend support to the newly initiated project to foster agricultural productivity and reduction of poverty and malnutrition. The African Development Bank was established in 1964 to finance African countries' economic growth and social progress efforts. It has extended finance for development projects in agriculture, energy and construction.

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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...


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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...


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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...