Fed Launches €2 million Project for Job Creation

Jan 27 , 2024


A 10 million euro loan and two million euro grant to finance a skill park for fashion and design in Addis Abeba and an enterprise incubator hub in Jimma town, Oromia Regional State was lauched. Financed by the Italian government, the project targets job creation for women and youth, according to officials. State Minister for Finance Semereta Sewasew, and Italian Ambassador to Ethiopia Agostino Palese, signed the agreement to fund the project last week. The International Labor Organization (ILO) projects a rise of 2.2 million unemployed individuals and a decline in real wages due to high inflation. Ethiopia, in particular, has been grappling with a working poverty rate of around 18.3pc two years ago, with the latest labour standards pegging it slightly above two dollars. The Ministry of Labor & Skills in Ethiopia has been expanding its Technical & Vocational Education & Training (TVET) programs. This expansion aims to accommodate the increasing number of individuals transitioning from the formal education route to address the annual influx of freshly unemployed individuals into the workforce.


Radar

Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


Radar

AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Radar

Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...


Back
WhatsApp
Telegram
Email