Japan Donates $30m for Food Relief

Sep 19 , 2020


[ssba-buttons]

Japan has contributed 30.2 million dollars to help Ethiopia meet its food needs for communities that have been affected by the Novel Coronavirus (COVID-19), desert locusts, droughts and floods. The donation, channeled through the National Disaster Risk Management Commission (NDRMC), is expected to address the acute food needs of over 1.6 million people dwelling in the regions of Afar, Amhara, Oromia, Southern Nations, Nationalities & People, and Tigray regional states under the framework of the 2020 Humanitarian Response Plan. The World Food Programme has been handling the procurement, shipment, receipt and overland transport of 72,440tn of wheat to the country under this support from the Japanese government. The wheat will then be forwarded to distribution points by the Commission. The donation was made through the initiative of the Tokyo International Conference on African Development (TICAD), which first took place in 1993 and has since then met seven times.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses today, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payments. The bank...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...