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Ethiopia, Korea EXIM Bank Sign $70m Loan

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Ethiopia and the EXIM Bank of Korea have signed a 70-million-dollar loan agreement that will be used to cover costs related to Novel Coronavirus (COVID-19). The loan agreement was signed between Ahmed Shide, minister of Finance, and Bang Moon, president of EXIM Bank of Korea. From the total value, 40 million dollars will be used to fill the budget deficit Ethiopia may encounter due to the expenses the government has accumulated in fighting the virus. The remaining funds will be used for the procurement of medical equipment that will be used for the prevention and treatment of COVID-19. The concessional loan the two countries have signed will be paid over a longer period of time, according to a statement from the Ministry of Finance.

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Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...

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Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hilton Hotel Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...

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Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...

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