Second Quarter Loans and Grants Register at $255m

Jan 7 , 2022

The federal government received 255.6 million dollars in loans and grants during the second quarter of this year, according to a report from the Ministry of Finance. A further 364 million dollars was committed over the same period. The disbursals are less than 36pc of what was received through loans alone during the same period last year, adding up to 715 million dollars. The first quarter saw 137 million dollars in loans disbursed, less than half the figure from the same period last year. Some 607 million dollars was spent servicing debts over the first quarter, 435 million dollars of which went to repaying government-backed loans.



A young shoe shiner goes door to door, offering his services around the Stadium area. It is common in the capital to see young rural migrants engaged in physical labour, scraping change to send home. CHR Michelsen Institute (CMI) estimates that one out of three rural households has at least one family member migrating to cities. Extreme poverty and lack of access to farmland force many to look for better prospects in the city. Upward income mobility has remained stagnant over the last five years...



A carriage around the Ayat area delivers water, as homes rarely access tap water in the area. Ethiopia has nine major rivers, and twelve big lakes, often called the water tower of Africa. However, UNICEF estimates that up to 80pc of communicable diseases in Ethiopia are due to a lack of access to safe water and sanitation. The second most populous country in Sub-Saharan Africa has the highest percentage of the population without access to potable water at 60pc, while the average daily consumptio...



Holiday activities at Jan Meda included penalty shoot outs for cash pay alongside other carnival games. The World Cup final in Qatar ended in penalty shoot outs this year, a global audience of 1.5 billion watched the spectacle. While the tournament's ending had stirred planetary awe, the death of 37 workers during the construction of the stadiums had given the games a sour taste early on. The tournament broke records of the biggest budget of more than 200 billion dollars and the most spectators...