Korea Donates Masks to Ethiopian War Veterans

May 23 , 2020


The Embassy of the Republic of Korea in Addis Abeba has donated a total of 40,000 face masks to be delivered to 911 people, including war veterans and their families. The donations, provided by the 70th Anniversary of the Korean War Commemoration Committee of Korea, is aimed at protecting the veterans from the Novel Coronavirus (COVID-19). The Embassy, which plans to visit each of the war veterans, stated that the contribution of the veterans has been significant to the freedom of Korea and that this is part of the effort to promote their health and welfare. Hoon-min Lim, the Ambassador to Ethiopia, stated that Korea would not forget the noble sacrifices of Ethiopian war veterans. The Korean War Veterans Association, represented by Melese Tessema, the head of the Association, expressed gratitude and asked for sustained support for the veterans and their family members.


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