Textile Industry Gets $4.5m Boost

Feb 6 , 2021


[ssba-buttons]

The Ministry of Labour & Social Affairs has launched a 4.5-million-dollar project aimed at providing support to the textile industry. Over 40,000 individuals are expected to benefit from the first phase of the project, which will last three months. The project, carried out in partnership with the International Labour Organisation, is aimed at supporting workers and enterprises in the textile industry who have been impacted by the effects of the Novel Coronavirus (COVID-19) pandemic. Funded by the German Federal Ministry for Economic Cooperation & Development (BMZ), it will focus on covering the wages of employees in the textile industry. A memorandum of understanding on the BMZ's Special Initiative on Training &  Job Creation, entitled "ProAgro Ethiopia – Promotion of Decent Work in Agribusiness", was signed last November between the ILO and the Ministry. The project, which involves the Ministry of Trade & Industry, has a five-million-euro budget.


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...