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World Bank Nods to $180m Refugee Welfare Project Extension


World Bank Nods to $180m Refugee Welfare Project Extension

The World Bank has approved 180 million dollars in financing for the expansion of a welfare programme designed to bring refugees back to the workforce while in host countries. The "development response to displacement impacts" programme was launched five years ago with 100 million dollars in loans secured from the Bretton Woods institution. The federal government requested additional financing a year before the project's first phase was scheduled to come to a close last December. Officials said the extension was necessary to complete unfinished works in two weredas of the Somali Regional State, which had been interrupted due to security concerns. The additional funding may enable project managers to continue work in Tigray Regional State, which hosted five large refugee camps and where the programme was frozen following the outbreak of armed conflict in November 2020. They are part of the 27 camps hosting 845,000 refugees and asylum seekers in Ethiopia. Officials hope to see the second phase, which will run for five years beginning this month, reaching 2.5 million people, and around a quarter will come from refugees.

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Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...