IPDC Signs Agreement with Awash and COOP

Jun 26 , 2021

The Industrial Parks Development Corporation (IPDC) has partnered with Awash Bank and the Cooperative Bank of Oromia as its two sole financial service providers. The banks are expected to provide credit services for the Corporation's 800 employees and the its 13 industrial parks it operates throughout Ethiopia. The Corporation, in exchange, will use the two banks to pay salaries to its workers and collect rent from factories having shades inside the parks. While the Corporation has chosen the two banks to oversee its transactions, investors stationed in the parks can choose banks of their preference. The Corporation picked the two financial institutions after shortlisting six banks from 18 interested applicants for the service. IPDC has so far invested more than 45 billion Br in the construction of the parks, which are currently generating 24 million dollars annually through rental fees. It has created job opportunities for more than 76,000 people.



Women around the Koshe area hunt through piles of trash to find scraps of metal to sell. With close to three million people unemployed in the country and a headline inflation of 33pc, unskilled labour is in little demand. Ethiopia has an adult literacy rate of 51pc, with fewer numbers going past high school. Less than three percent of 12th-grade students made it to universities this year while the rest were at the mercy of remedial exams...



An old wooden car that was part of a commercial campaign by a furniture company around the Beherawi Theatre area. Ethiopia's forest coverage to national land size has been registered at 15pc to the latest data by the World Bank. The current Prime Minister Abiy Ahmed launched an initiative labelled 'Green Legacy' to plant five billion trees in 2020 claiming an 83pc success...



A young boy attempts to pull a piece of cloth from an overloaded pickup truck around the Ayer Tena area. Observing an unsupervised child on the streets of the capital has become a common sight, with sporadic conflict across the country creating nearly four million internally displaced people. Despite the last census having been conducted 16 years ago, the population of the country is estimated at 120 million...