Japan Pledges for School, Hospital

Dec 19 , 2018


The government of Japan has pledged 452,000 dollars for the construction of schools and equipment for medical emergency centres. The projects will benefit weredas in Southern Nations, Nationalities & Peoples’ and Oromia regional states. The project is set to construct and expand four primary schools in these regional states. Also, the finance will be used to construct a shelter for elderly and disabled people in Shashemene town, south of Addis Abeba, and to procure equipment for the urology and emergency departments at Black Lion Hospital. The construction and expansion of the schools are in areas where access to education is very low, which will go a long way in assisting the government’s effort, according to Erstu Yirdaw, Sports Commissioner. Japan has been assisting Ethiopia in more than 400 projects across several sectors including education, access to clean water and economic development since 1996.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email