Trade Ministry Donates to Drought Affected Areas

Apr 15 , 2023


Drought-affected areas in Borena, Bale, Guji and Hararge areas of the Oromia Regional State embarked on assistance as the Ministry of Trade and Regional Integration (MoTRI) contributed more than eight million Birr to the regional state a fortnight ago. The Ministry announced that in the past six months of the fiscal year, 1.75 billion dollars in revenue had been generated from the export sector. Agricultural exports accounted for 77.23pc of total exports while shipped manufacturing commodities brought in 176.7 million dollars. United Nations agencies working in disaster response and relief efforts have warned that the current drought engulfing the Horn of Africa region could be far worse than reported a decade ago. For several months authorities have been dispatching food assistance to residents in the Borena zone of the Oromia Regional State compelling the City administration, under Adanech Abiebie, to donate over 100 million Br. Last seen four decades ago, the current drought is expected to impact 36.5 million people in Ethiopia, Kenya and Somalia. It is feared to expose no less than 20 million of them to acute food insecurity. Failing to see rainy seasons for five consecutive years since 2018, the prevailing drought is more severe and could stay much longer.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email