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Korea Agency Puts up $5m for COVID-19 Resilience

Sep 19 , 2020

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Korea International Cooperation Agency (KOICA) has donated five million dollars to Ethiopia to bolster the response toward the ongoing fight against the Novel Coronavirus (COVID-19) pandemic in the country. The Ministry of Trade & Industry signed a virtual memorandum of understanding with KOICA for the production of personal protective equipment (PPE) as a means of retaining jobs in small and medium enterprises working in leather and leather product production. Half a million dollars of the funds will be directed to repurposing these industries and enabling them to produce PPE. In addition to the initiative, the funds will finance awareness creation campaigns in the rural parts of the country regarding the containment measures of COVID-19. KOICA was established in 1991 by the Korean government to maximise its grant aid programmes for developing countries.

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Creditors Open Way for Ethiopia's Eurobond Restructuring

Ethiopia has cleared a key hurdle in restructuring its one billion dollar Eurobond after the Official Creditor Committee (OCC) approved the latest agreement with private bondholders. The OCC said the deal meets its “comparability of treatment” principle, allowing the government to proceed with restructuring the bond, which matured in 2024. The approval follows renewed negotiations after official creditors rejected an earlier agreement reached in January. Under the new agreement, reache...

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University Cutoff Leaves Most Exam Takers Behind

Only 70,544 students, or 12.8pc of those who sat the Ethiopian Secondary School Leaving Certificate Examination (ESSLCE), scored above the 50pc threshold required for university admission. Education Minister Berhanu Nega (Prof.) disclosed the results during a press briefing last Saturday. Nearly 32pc of the successful candidates were from Addis Abeba, giving the city the highest share. Oromia Regional State followed, while Amhara Regional State accounted for the remaining share. The res...

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Dairy Drive Turns to Farmers to Cut Import Reliance

A five-year dairy project targeting 350,000 farmers has increased average milk production per cow by 3.8 litres a day, supporting Ethiopia's effort to replace imported dairy products with domestic output. The Ministry of Agriculture leads the initiative in collaboration with SNV's BRIDGE Plus project. It combines cow-focused advisory services, technology, market links and farmer capacity-building to raise dairy productivity. The work has centred on helping farmers produce surplus milk for sal...

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