Ethiopia Kicks off Construction of Irrigation Dam

Jun 8 , 2019

The construction of the 3.3-billion-Br Guder Sato Irrigation Dam project started in West Showa Zone, Oromia Regional State. Expected to benefit 5,000 household farmers, the irrigation dam will be constructed by the Ethiopian Construction Works Corporation (ECWC), which has 15,000 employees and operates with a capital of 20 billion Br. Oromia Water Works Corporation will supervise the construction. The Dam, which will be 4.6m high and 273m long, will trap 57 million cubic metres of water to irrigate 5,000ha of land. Five months ago, the Auditor General confronted the Ministry of Water & Irrigation for delays and cost overruns of the Zarema Mayday and Megech irrigation dams, which have cost a total of 13.6 billion Br. Gemechu Dubisso, the auditor general, reported the inflated aggregate cost of the two irrigation dams to parliament last January.


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...