WB, Gov't Join Hands for Urban Dev't Programme

Feb 8 , 2020


[ssba-buttons]

Ethiopia has started conducting the third phase of the Urban Institutional & Infrastructure Development Programme that targets 117 urban areas at a cost of 859 million dollars. The consultancy programme was implemented in 19 urban areas in the first phase and 44 urban areas in the second, according to the Ministry of Urban Development & Construction. The programme, which began 11 months ago under the aegis of the World Bank and the government, created more than 800,000 jobs for the youth. The aim of the operation is to alleviate the performance of the urban local governments to expand and maintain urban infrastructure, services, and local economic development. The first phase was launched in 2008 with 300 million dollars in funding from the World Bank and 116 million dollars from the government. The second phase commenced in 2014 with the World Bank funding 380 million dollars and the government contributing 176.6 million dollars.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...