Fed Secures 25m Grant, Loan for Green Development

Aug 4 , 2024


[ssba-buttons]

A 25 million euro financing agreement to finance state projects such as Gebeta Letewled was signed last week. The agreement includes a 13.5 million euro grant and an 11.5 million euro soft loan aimed at promoting environmental and green economy development. Minister of Finance Ahmed Shide and Ambassador of the Government of the Italian Republic Agostino Palese, signed the agreement, with hopes of appropriating the funds to strengthen Ethiopia's economic system, environmental protection, and natural resource management. "Italy is proud to support Ethiopia's efforts to build a sustainable and green economy," Ambassador Agostino said. "This agreement underscores our shared commitment to climate action and green growth."


Radar

Coffee Hub Illu Ababor Targets Bigger Share in Global Market

Illu Ababor Zone supplied more than 51,000 tons of coffee to the central market in the 2024/25 fiscal year, Deputy Administrator Mohammed Teha reported. The effort is part of the "Neqemte Initiative," designed to promote production, productivity, and quality in top foreign exchange earner. The zone spans over 700,000 hectares, including 300,000 hectares of newly planted and rehabilitated coffee and 400,000 hectares of wild varieties, cementing its role as a major coffee hub. Officials highlig...


Radar

From Loan to Tap, Ministry Secures Water Infrastructure Funds

The Ministry of Water & Energy has signed a cooperation framework with China Exim Bank, facilitated by contractor CGCOC, securing a 100 million dollars loan. State Minister for Drinking Water & Sanitation Ambassador Asfaw Dingamo (PhD) said the funding will finance water supply and sanitation infrastructure in five cities: Holeta in Oromia, Areka in the South, Inseno and Tora in Central Ethiopia, and Mizan Aman in the South...


Radar

Bureau Rolls Out QR-Enabled IDs for Inspectors

The Addis Abeba Revenues Bureau has equipped inspectors with QR (quick response) code-integrated ID cards to curb fraud and improve transparency. Launched in Mercato, the system lets merchants verify inspectors' identities via smartphone, deterring impersonation and extortion. Bureau head Biniyam Mikiru said the move strengthens technology-backed oversight and shields compliant taxpayers. Inspectors will also wear new uniforms to distinguish them from impostors. Merchants praised the reform, say...