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UNHCR to Finance Solar Farm Dev't

Nov 14 , 2020

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The United Nations High Commission for Refugees (UNHCR) has put up a tender for independent power producers to build photovoltaic (solar power) plants ranging from 60kW to 500kW of capacity. The Agency is currently accepting proposals for the construction of ground-mounted solar projects from producers who will finance, build and operate the solar plants. The final project will have a combined capacity of 1.8MW, and sites are expected to be deployed in combination with storage or diesel power generators along with diesel back up. The selected independent power producers are going to be awarded a long-term power purchase agreement (PPA), backed by the UNHCR’s Green Fund. The Green Fund is an innovative financing scheme that permits the Agency to contract out clean energy generation as a service through multi-year PPAs or similar leasing arrangements with private sector independent power producers.

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Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...

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NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...

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Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...

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