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US Pledges $30m for Upcoming Election

Feb 29 , 2020

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The United States has promised to provide 30.4 million dollars to support the upcoming national election, which is expected to take place on August 29, 2020. A memorandum of understanding of the fund has been signed by Sean Jones, USAID Mission Director, and Birtukan Midekssa, the chairperson of the National Electoral Board of Ethiopia (NEBE). The fund will be used to build the capacity of NEBE to organise, administer and conduct free and fair elections. The programme will be implemented by the Consortium for Election & Strengthening Political Process, which includes the National Democratic Institute for International Affairs, the International Republican Institute, Internews, the International Foundation for Electoral Systems, and the Electoral Institute for Sustainable Democracy in Africa.

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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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