Ethiopia Garners $350m Developmental Aid

Jul 29 , 2023

World Bank pledges 400 million dollars in development financing to Ethiopia targetted at education, nutrition and rehabilitation of war-affected areas. The agreement was virtually signed between Minister Ahmed Shide and Country Director Ousmane Dione last week. According to the announcement made by the Ministry, the 50 million dollars is given in the form of credit while the rest is set aside as developmental aid. It was revealed recently that up to 20 billion dollars in financing would be required to rehabilitate the war-devastated regional state of Tigray alone while Ahmed indicated that significant foreign assistance would be required to return to a war economy while proposing next year's austere budget to parliament two months ago.


Premier Pushes Domestic Drug Production

A six-day domestic pharmaceutical production and innovation expo was inaugurated by Prime Minister Abiy Ahmed (PhD) last week. More than 110 local pharmaceutical manufacturers participated at the Millennium Hall on Airport Road. Recently appointed Minister of Health Meqdes Daba (MD), said local production of pharmaceuticals has become a cornerstone of health policy, which received approval from the Council of Ministers a month ago. However, a report from the Global Fund For Health last year r...


AFDB Lauds $8m for Solar Mini-Grid

Around half a million people foresee benefits from the pilot mini-grid built across nine sites in Amhara, Oromia, Sidama, and the Southern regional states. African Development Bank Group has approved eight million dollars in finance to support the project under the Distributed Renewable Energy & Agriculture Modalities (DREAM) program. The DREAM project, with a total budget of 20 million dollars through concessional loans, grants, and risk mitigation, will cover half of the mini-grid capital...


Parliament Approves $275m Loan for Urban Project

A  275 million dollar loan agreement was approved by Parliament last week, to support the second phase of the Urban Water Supply & Sanitation Project. Set to be implemented over the next three years, the project follows negotiations between Ethiopia and the International Development Association (IDA). The Chief Whip Tesfaye Beljige (PhD), presented details of the loan agreement to lawmakers and said that the project focuses on enhancing the supply of clean drinking water and improving sa...