UK Pledges £105m for Land Mgmt, Industrialisation

Aug 1 , 2020


The government of the UK and Ethiopia have signed a grant agreement amounting to 105 million pounds to support land certification, improved rural land administration and industrialisation. Ahmed Shide, minister of Finance, and James Duddridge (MP), Minister for Africa of the UK’s Foreign & Commonwealth Office and the Department of International Development, signed the grant agreement on July 28, 2020. The grant will be used for the Land Investment for Transformation and the Accelerated Ethiopia Economics Transformation programmes. The programmes will be implemented in Oromia, Amhara, Tigray and Southern Nations, Nationalities & People's regional states. The UK has pledged 60 million pounds for phase two of the Land Investment for Transformation programme, which is aimed at transforming the land certification and market system in the regional states. It incorporates second-level land certification for seven million parcels of land and computerisation of 103 weredas' land administration systems where the second-level land certification occur. The second part of the grant, with 45 million euros, will go toward the Accelerated Ethiopia Economics Transformation programme, designed to support industrialisation. It is expected to create 40,000 new jobs and generate 25 million pounds of private investment in four fully operational industrial parks. The initiative is also expected to strengthen federal and regional institutions and the regulatory and policy environment within which businesses operate.


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