Tigray State IDPs to Get 20 Shelters

May 15 , 2021


The interim government of Tigray Regional State has announced that temporary shelters worth 50 million Br will be constructed for internally displaced persons. The project is funded by the United Nations High Commissioner for Refugees (UNHCR), Save the Children, and other international organisations. The shelters will be built in 20 cities in Tigray region and 60pc of the construction of the centre located in Meqelle has already been completed. Each shelter will be able to host 15,000 people. Construction is planned to be completed before the rainy season begins in June. According to the end of March data from UNHCR, the conflict in Tigray has internally displaced 730,000 people while more than 62,000 people are have sought shelter in eastern Sudan.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email