Ethiopia's Third Shot at Peace Gets a $6.7m Boost


A 6.7 million dollars to finance the National Rehabilitation Commission (NRC)'s disarmament, demobilisation, and reintegration (DDR) program for nearly 370,000 ex-combatants, was pledged by the Japanese government. The financing will be channelled to the design, implementation and monitoring of the DDR program across eight regional states. Shibata Hironori, ambassador of Japan to Ethiopia, signed the agreement last week at the Ministry of Finance headquarters on King George VI St with Tesfalem Yihdego, deputy commissioner of the Commission and Semerta Sewasew, state minister for Finance. Ethiopia's third DDR program follows a 174-million-dollar effort over five years following the conflict with Eritrea. The first one was a 198 million-dollar project following the fall of the Derg regime 32 years ago. The government began efforts to mobilise funds to finance the DDR programs shortly after a cessation of hostilities agreement was signed in November 2022 after one of the bloodiest wars in the country's history. Temesgen Tilahun, the former deputy commissioner at the Ethiopian Investment Commission (EIC), replaced Teshome Toga last month to head the NRC. The UN Department for Peace-Keeping Operations (DPKO), the UN Development Programme (UNDP), and the World Bank have carried out disarmament and demobilisation processes globally, with 73 implementations since their inception in the 1970s.


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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

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...


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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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