Council Eyes Separate Funds for Green Legacy Initiative

Jun 11 , 2024


To alleviate federal and regional administrations struggling with limited resources, a proclamation dedicating separate funds for land rehabilitation and service efficiency improvement was approved by the Council of Ministers last week. One fund will support ongoing efforts to restore degraded lands and promote the Green Legacy initiative, a national tree-planting program initiated by Prime Minister Abiy Ahmed (PhD), with an ambitious goal of planting billions of trees each summer. The government hopes to increase the area of restored land and forest development efforts. The other regulation is expected to modernise the Coffee & Tea, and Petroleum & Energy authorities with new technology and skilled personnel, aiming to enhance their service delivery.


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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...


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Authority Reports Fuel Import Stats

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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...


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