Sweden Seeds $3.6m for Good Governance

Sep 21 , 2019

Sweden pledged a grant of 3.6 million dollars to Ethiopia to support new and existing governance reform initiatives, including the justice system reform. Pledged through the United Nations Development Programme (UNDP), the financing agreement was inked last week. The agreement was signed on September 19, 2019, between Swedish State Secretary of International Development Cooperation Per Olsson Fridh; Turhan Saleh, UNDP Ethiopia Resident Representative; and Admasu Nebebe, state minister for Finance. On the same date, Fridh had a discussion with Muferiat Kamil, minister of Peace, regarding peace building, democracy and how Sweden can support Ethiopia. The two countries also agreed to work in cooperation on the economy, justice and peace.


Industrial Park Garners $10m from Free Trade Zone

A report from the Industrial Parks Development Corporation (IPDC) has revealed that over 10.7 million dollars (half a billion Birr) has been gained from the Dire Dewa Free Trade Zone in the last fiscal year. The development of FTZs is one of the major economic initiatives set as part of Ethiopia's 10-year perspective development plan. Officials disclosed that efforts to bring logistics and trade sectors into the free trade zone are in the pipeline. Located 445Km east of the capital, Dire D...


Chinese Institution Covets Bamboo Development

Ethiopia aspires to develop the bamboo industry through technology, research, and training partnering with China's Nanjing Forestry University last week. Officials at the Ethiopian Forestry Development said that the industry remains underdeveloped considering the large resources available with 1.47 million hectares of bamboo forest. Average exports of bamboo products only accounted for 0.02pc of global exports, proving that the country has not used it even to its minimal potential. Accordi...


Fuel Prices Go High

Officials at the Ministry of Trade & Regional Integration have made an average three percent increase on the price of fuel, effective September 29, 2023. After only a month since the last adjustments were made, the statement from the Ministry indicates the price twig was necessary following an international oil market change. Following the adjustment, a litre of Benzine is 77.65 Br, up by 2.8 Br; a litte of Diesel goes for 79.75 Br,  while Kerosine is sold at 79.75 Br which increased by...