Diaspora Trust Fund Seeds $1m Emergency Support

Apr 12 , 2020

The Advisory Council of the Ethiopia Diaspora Trust Fund (EDTF) has committed one million dollars in seed money to the new emergency fund, which was established to mobilise resources to mitigate effects of the Novel Coronavirus (COVID-19). The new emergency fund will be guided primarily by the priority items identified by the Ministry of Health. It will also closely coordinate with the Prime Minister’s National COVID-19 Resource Mobilisation Committee, the Ministry of Health's COVID-19 Task Force, and collaborate with other Ethiopian diaspora organisations working to address the virus's threat to Ethiopia. The new fund will be coordinated in Ethiopia by Board Chairperson Zafu Eyesuswork, Vice-Chairperson Mehret Mandefro (PhD) and the EDTF Secretariat. It will provide periodic reports on funding allocations and expenditures. There is no more critical and urgent healthcare need facing all Ethiopians today than the prevention, treatment and mitigation of COVID-19, according to Alemayehu G. Mariam (PhD), chairperson of the EDTF Advisory Council.


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...


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...


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...