Japan Proffers $13.6m Grant for Pandemic

Jul 25 , 2020


[ssba-buttons]

The government of Japan gave 13.6 million dollars in grant funding to Ethiopia for the procurement of medical supplies to support the ongoing battle against the Novel Coronavirus (COVID-19). The agreement was inked by Ahmed Shide, minister of Finance, and Daisuke Matsunaga, ambassador of Japan to Ethiopia, at the end of last week. The new grant is a continuation of the 2019 Tokyo International Conference on African Development (TICAD-7) commitments to expand universal health coverage and the African health and well-being initiatives. It will be directed for the supply of critical medical equipment including accessories, spare parts, installation, operation and maintenance. This aid will strengthen the healthcare system through the provision of health and medical equipment including radiography systems and portable ultrasound scanners to hospitals and medical universities in Addis Abeba, Dire Dawa and 10 other cities, according to Daisuke.


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, this past Saturday, 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) payme...


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. ...