Japan Pledges $16.5m in Humanitarian Aid

Feb 6 , 2021

Japan pledged 16.5 million dollars in humanitarian aid to Ethiopia over the remainder of the current fiscal year. The aid comes as part of the commitments made at the Tokyo International Conference on African Development Initiative (TICAD-7) in August 2019. Japan will provide five million dollars through the Food & Agriculture Organisation, the UNDP and the World Food Programme intended to support food production and enhance the livelihood of refugees. The humanitarian assistance will be implemented in six regional states including Oromia, Afar, Tigray, Amhara and Southern Nations, Nationalities & People regional states. Over eight million dollars will be allocated toward bettering healthcare and improving water and sanitation facilities through UNICEF and UNHCR. Japan will also provide 1.9 million dollars to support public waterworks in Somali Regional State. Finally, 1.4 million dollars will be provided to prevent violent extremism and promote peace through education and capacity development of the Ethiopian International Peace Support Training Institute.


Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...



Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...



Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...