EU Responds to COVID-19 with 19b Br

Jun 20 , 2020

With joined arms, the member states of the European Union have mobilised 19 billion Br to support the fight against the health crisis and the social protection system needs necessitated by the Novel Coronavirus (COVID-19) pandemic. The support includes money for the Ethiopian health system and quarantine hubs, social protection enhancement, livelihood recovery and overall economic responses. Team Europe, which is the epicentre of this endeavour, is also contributing 60 million euros to the Intergovernmental Authority on Development (IGAD) for regional coordination to support border facilities, continuity of health services, efforts to ensure critical supply chains for safe trade and the promotion of digital solutions for health responses to COVID-19. Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Poland, Slovakia, Spain and Sweden have taken part in the mobilisation of resources.


Pivots in Business Maze

A set of projects spearheaded as part of ease of doing business reform with a 7.2 million euro finance from the European Union (EU) is set to improve and navigate the lingering concerns in Ethiopia's business landscape. E-governance projects are undertaken by GIZ International Services and Mckinsey & Company in cooperation with five federal agencies, including the Justice, Trade,  Innovation, Revenues ministries and National Bank of Ethiopia (NBE) are part of the wider plan to improve the d...


Dashen Bank Board Reinstates its Chair

Dashen Bank re-appoints Dula Mekonnen as its Board Chairman, extending his tenure for another three years. The decision was made during a board of directors meeting held at the Sheraton Addis Hotel last week. Dula holds a first degree in electrical engineering from the Adama Science & Technology University and a graduate degree in business management. With a diverse leadership background spanning three decades, Dula has served as a manager at Ethio-Leather Industry Plc and managed Wenji S...


Digital Fuel Transactions Soar Amid Subsidy Drop

Nationwide digital fuel transactions have exceeded the 155.4 billion Br mark, as the Ethiopian Petroleum & Energy Authority released a half-year report last week. Consistent reductions in fuel subsidies have led to the fuel price stabilisation fund hitting an all-time low of 117.4 billion Br, a decrease of 79.6 billion compared to the previous year. The report highlights the successful monitoring of subsidies across the country's 1,589 fuel stations, benefiting nearly 200,000 transporters...