Fed Launches €2 million Project for Job Creation

Jan 27 , 2024


[ssba-buttons]

A 10 million euro loan and two million euro grant to finance a skill park for fashion and design in Addis Abeba and an enterprise incubator hub in Jimma town, Oromia Regional State was lauched. Financed by the Italian government, the project targets job creation for women and youth, according to officials. State Minister for Finance Semereta Sewasew, and Italian Ambassador to Ethiopia Agostino Palese, signed the agreement to fund the project last week. The International Labor Organization (ILO) projects a rise of 2.2 million unemployed individuals and a decline in real wages due to high inflation. Ethiopia, in particular, has been grappling with a working poverty rate of around 18.3pc two years ago, with the latest labour standards pegging it slightly above two dollars. The Ministry of Labor & Skills in Ethiopia has been expanding its Technical & Vocational Education & Training (TVET) programs. This expansion aims to accommodate the increasing number of individuals transitioning from the formal education route to address the annual influx of freshly unemployed individuals into the workforce.


Radar

Deposit Insurance Fund Grows to 15.1B Br, Signals Readiness for Crisis Response

Two years into its operations, the Ethiopian Deposit Insurance Fund (EDIF) has grown its asset base to 15.1B Br, reinforcing its role as a critical backstop for depositors and financial institutions alike. The Fund, established under a proclamation by the Council of Ministers, was designed to shield depositors in the event of bank or microfinance collapses. Since its inception, EDIF has focused on collecting premiums from member institutions, investing the funds, and building a system robust...


Radar

Rockefellers 100m Dollars Leap into Regenerative Lunches

As part of the UNFSS+4 High-Level Convening, a thematic session titled "Nourishing the Future through Regenerative School Meals" was held on July 26, 2025, at the Sheraton Addis on Taitu St. It brought together prominent figures including Ethiopia's former Prime Minister Hailemariam Desalegn, former First Lady Roman Tesfaye, and Kenya's First Lady Rachel Ruto. Organised by the Rockefeller Foundation, the event focused on overhauling child nutrition through regenerative agriculture. Sarah Farl...


Radar

Hijra Bank Backs Young Innovators with Awards, Loans

Hijra Bank has awarded five young Ethiopian innovators in the final round of its “Sirara” Creative Spark Awards, selected from over 27,000 applicants. The programme targets practical innovations in agriculture, sustainability, and appropriate technology. Top winner Milkias Ahmed (PhD) received a 300,000 Br prize and a 3 million Br interest-free loan for developing an organic soil conditioner from animal bones. Second and third prizes went to Yusuf Ali and Muhammad Juhar for a crop-harvest...