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Ministry Foretells Half a Billion Br Water, Energy Projects

Jul 1 , 2023

Two projects targeting energy sources to ensure an eco-friendly and reliable power and water supply are underway with the Danish government signing a 555 million Br development plan last week. The agreement was signed between State Minister Semerta Sewasew and the Danish Ambassador, Kida Sindbjerg with plans to partner with Ethiopian Electric Power (EEP), Ethiopian Electric Utility (EEU), and the Ministry of Water & Energy. The project managers hope to enhance the utility of groundwater in Dire Dewa and Hawassa cities. The Danish government has been assisting various developmental and humanitarian programs in Ethiopia, including the WASH program launched back in 2021 by UNICEF which ought to increase access to sanitary services by 2025 for 1.6 billion Br.

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Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...

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Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...

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Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...

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