US Agency Elects Ethiopia for Grants

Dec 19 , 2018


[ssba-buttons]

The United States government’s Millennium Challenge Corporation, an agency that gives time-limited grants and assistance to developing countries, has chosen Ethiopia as one of the eligible countries. The agency, which works to reduce global poverty, selected Ethiopia for assistance that is designed to spur economic growth during its quarterly meeting on December 12 2018. The board of the Corporation also selected Indonesia, Malawi and Kosovo for bilateral compacts for five-year grant programs, while it selected Ethiopia and the Solomon Islands for MCC threshold programs – the Corporation’s smaller grant program focused on policy and institutional reform. “I am pleased to announce new MCC compact partnerships with Indonesia, Malawi, and Kosovo, and new threshold partnerships with Ethiopia and Solomon Islands,” MCC Chief Operating Officer and Head of Agency Jonathan Nash said. “The Board also directed MCC to explore regional investment opportunities in five of its current compact partners in West Africa.” The Board selected Ethiopia in recognition of the recent reforms made by the Government of Ethiopia, according to the Corporation. Founded in 2004, the Corporation provides support that meets rigorous standards for good governance, from fighting corruption to respecting democratic rights.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...