UNDP Blesses Tourism Sector with $18m Fund

Sep 28 , 2019


[ssba-buttons]

The United Nations Development Programme (UNDP) pledged 18 million dollars in financial support for the tourism sector. Pledged on September 26, 2019, the financing was channeled through the Inclusive Tourism Sector Development Project, a project that will be activated before 2023. The project was launched with the presence of Hirut Kassaw (PhD), minister of Culture & Tourism. The project aims at increasing the participation of the stakeholders in the tourism sector in facilitating sectorial development, according to Hirut. "It also targets to increase the participation of women in the labour force and to facilitate the economic development programmes, which in turn benefits the society," she said. UNDP, which has a presence in over 170 countries, has a total of over 100 million dollars in investments in Ethiopia to build long-term peace and enhance the country’s development.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...