economy

Ethiopia secures half a billion dollar to enhance safety net – etbaba.com

The World Bank and the Government of Ethiopia inked this morning a $512.5 million loan and grant agreement, which aims to enhance productive safety net program of the later. Of the total $200 million is loan from the World Bank to Ethiopia while the remaining is provided as grant. The agreement signed by Ahmed Shide, …

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UN stresses need to improve poor countries’ productive capacities – etbaba.com

Efforts to rebuild the economies of the world’s poorest nations postpandemic will fall significantly short unless their productive capacities are drastically improved, according to UNCTAD’s Least Developed Countries Report 2020. Least developed countries (LDCs) with the most developed productive capacities have best been able to combat the fallout from the pandemic, according to the report. …

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Somalia to strengthen private sector growth, encourage investment – etbaba.com

IFC, a member of the World Bank Group, has signed its first formal agreements with the Federal Government of Somalia to support the country’s goal to strengthen its private sector, attract investment, improve public services, and create jobs. Through the agreements, signed with Somalia’s Ministry of Planning, Investment, and Economic Development, IFC will advise on …

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African economies to experience lower growth in 2020 – etbaba.com

Most of African economies will be likely to experience lower growth lower than expected growth in 2020 compared to the 2019 projections, says new study. Policy responses to combat the crisis – lockdowns led to decline in demand for African commodities, depreciating exchange rates and higher inflation, according to a new report by the UN …

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New fund to save jobs in Ethiopia’s textile industry – etbaba.com

A $6.5 million fund set up between the UK and Germany in collaboration with the Government of Ethiopia aims to save thousands of jobs in Ethiopia’s textile and garments industry, while helping to support the country’s economic recovery from COVID-19. This is stated in a press statement distributed to the media on behalf of the …

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Rockefeller Foundation commits $1 billion for green recovery from pandemic – etbaba.com

The Rockefeller Foundation will commit USD1 billion over the next three years to catalyze a more inclusive, green recovery from the Covid-19 pandemic. Building on current efforts and long-standing programs, the Foundation will focus on two key areas: catalyzing billions of dollars in private and concessional investments to scale distributed renewable energy across developing countries; …

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Ethiopia attracts half a billion dollar FDI in three months – etbaba.com

The Investment Commission of Ethiopia says the country has half a billion foreign during the first quarter of the country’s current fiscal year. Compared to last year the amount declined 20 percent. Compared to the FDI the country attracted same period the previous year, the amount has declined by 20 percent as a result of …

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Ethiopia to help vandalized investments recovery – etbaba.com

The Government of Ethiopia is preparing a recovery package that will help businesses vandalized by mobs came out to streets in many towns of Oromia region after the assassination of famous Oromo singer Hachalu Hundesa a few months ago. “Like the previous trend, Investment Commission in collaboration with different relevant government offices is conducting a …

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