WB Commits $512.5m for Adaptive Safety Net

Dec 5 , 2020

The World Bank's International Development Association (IDA) and the Ministry of Finance have signed an agreement for 512.5 million dollars for the implementation of the Strengthen Ethiopia's Adaptive Safety Net Project.  Ahmed Shide, minister of Finance, and Ousmane Dione, World Bank Group Country Director for Eritrea, Ethiopia, South Sudan and Sudan, signed the agreement last week. The financing is expected to support the country's Novel Coronavirus (COVID-19) and locust emergency response efforts. The majority of the funds, 312.5 million dollars, has been allotted as a grant, while the remaining has been pledged as a loan. A portion of the funding, 12.5 million dollars, was sourced from the Bank's special Window for Crisis Response. The initiative aims to contribute to the government's Productive Safety Net Programme by creating technology-based delivery systems, enhancing the shock responsive elements of the Productive Safety Net Programme, and increasing geographical coverage. The Programme will also work on long-term efforts to fight livelihood challenges and advance the government's early childhood development agenda. The World Bank has been supporting the Productive Safety Net Programme for the past 15 years, and the government has pledged to contribute a further 600 million dollars to the Programme over the coming five years.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...