Ministry, World Bank Sign $250m Deal

Jun 5 , 2021


The Ministry of Finance and the World Bank have signed a 250 million dollar loan agreement for the funding of a project that aims to fortify social services in the country. The Enhancing Shared Prosperity through Equitable Services Program (ESPES) will focus on promoting the delivery of services such as basic education, primary healthcare, agricultural extension advice, water and sanitation, and infrastructure across the country through a decentralised system. The agreement was signed by Finance Minister Ahmed Shide and Ousmane Dione, World Bank country director, during a ceremony held on June 4, 2021. The duo inked a 907 million dollar financing agreement just over a month ago, half a billion dollars of which was funding for a project that aims to bring private sector capital into the energy sector.


Radar

Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


Radar

AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Radar

Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...


Back
WhatsApp
Telegram
Email