USAID Proffers $152m to Humanitarian Efforts

Apr 10 , 2021

International organisations have continued their efforts to alleviate the humanitarian crisis unfolding in the war-ravaged Tigray Regional State, where an estimated 4.5 million people require emergency assistance, with the United States Agency for International Development (USAID) providing more than 152 million dollars last week. The fund will be used to address hunger and acute malnutrition and for the provision of safe drinking water and urgently-needed medical and health support, disclosed a statement issued by the USAID. Provision of temporary shelters for the one million people who have fled from their homes due to the violent conflict between forces of the federal government and the Tigray People's Liberation Front (TPLF) is included as well. The latest donation brings the total amount of support from the United States to 305 million dollars. USAID had also deployed a Disaster Assistance Response Team (DART), which has been on the ground since the beginning of March, to lead the American response efforts.


Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...



Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...



Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...