IDA Targets to Commit U.S.$4.6 Billion to Ethiopia
The International Development Association (IDA), a wing of the World Bank, has allocated a 4.6 billion dollar loan to Ethiopia for 2018. The Association's priority areas will be water supply, sanitation, education, trade, logistics and development of woman entrepreneurship.
Ethiopia has active IDA commitments of 7.8 billion dollars as of August 2017, with a record lending of 1.78 billion dollars two years ago and 900 million dollars last year. IDA's envelope for Ethiopia is 3.8 billion dollars for the year 2017.
Established in 1960, IDA aims to support the world's poorest countries by providing grants and zero-interest loans for projects and programmes that boost economic growth, reduce poverty, and improve people's lives. IDA is one of the largest sources of assistance for the world's 77 poorest countries, of which 39, including Ethiopia, are in Africa.
Source: All Africa
The Ethiopian Meat & Dairy Industry Development Institute reported that the country generated 104 million dollars from meat, honey, wax, fodder products, and milk and dairy exports during the recently ended fiscal year. Currently, a total of 579 industries, of which 468 are established by local investors, engage in meat and dairy production. Out of the total investments, 186 are engaged in meat and fodder processing, 279 industries in milk and dairy processing, 65 in honey and wax processing, and 49 industries in fodder processing.
A new bill, which has been designed by the Ministry of Construction, sent to the office of Attorney General for review. The Ministry of Construction (MoC) has finalised a bill for the establishment of a Construction Industry Transformation Council, which is going to be chaired by Prime Minister Hailemariam Desalegn. The draft regulation, which has been designed by the Ministry for the past five years, was sent to the office of the Attorney General two weeks ago for review and improvement regarding the legal perspectives.
