Farm Africa Ethiopia Signs 30 million Deal with Swedish Embassy

Jun 3 , 2023


A three-year project to combat soil acidification and erosion through nature-based solutions was availed last week. It was spearheaded by Farm Africa Ethiopia with financial assistance from the Swedish Embassy. The Ambassador of Sweeden to Ethiopia, Hans Lundquist, signed the partnership agreement with the director of Farm Africa Ethiopia, Shewit Amanuel. The project is expected to be implemented across five regional states and 35 districts, where 87,400 households are expected to be beneficiaries. The Ministry of Agriculture revealed in its nine-month report in April that a whopping 43pc of the country's arable land is plagued by excessive acid content reducing fertiliser effectiveness. With the Ministry only managing to import 12pc of its planned 900,000qtl of limestone due to a budgetary squeeze, the impact of acidity on reducing agricultural productivity had been forewarned by experts. The agricultural sector contributes close to 40pc of the country's GDP while also employing two-thirds of the labour force. A combination of drought in Oromia Regional State, delayed delivery of fertilizer due to forex crunch and spurts conflict in several parts of the country have cast a precarious shadow over the next harvest season. Farm Africa was founded in 1985 by Sir Michael Wood, founder of AMREF Health Africa and David Campbell in response to the famine occurring in Ethiopia.


Radar

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...


Radar

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...


Radar

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...


Back
WhatsApp
Telegram
Email