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Two Donors Team Up to Create Jobs

Apr 17 , 2020

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Korea’s International Cooperation Agency (KOICA) and the United Nations Development Programme (UNDP) have agreed to support the creation of jobs in Ethiopia, where urban unemployment is at 19pc and 25pc among the youth. The agreement was signed between Dong Ho Kim, country director for KOICA, and Turhan Saleh, UNDP resident representative, in April 2020. The agreement includes 3.3 million dollars from KOICA and a one-million-dollar contribution from UNDP to launch a five-year project focusing on supporting ICT-based business start-ups and SMEs. The project will also facilitate loan guarantee schemes for ICT based start-ups and SMEs to address their financial needs. Previously, UNDP launched the entrepreneurship development programme in 2013 in partnership with the Ministry of Urban Development & Housing and trained over 90,000 entrepreneurs and 32,000 SMEs in the country.

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New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...

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City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...

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Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...

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