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More than 3.5 billion tree seedlings planted through Green Legacy Campaign

Over 3.5 billion tree seedlings have so far been planted under this year’s Green Legacy campaign.

This was disclosed at a campaign where media leaders and professionals planted tree seedlings at Gulele Botanical Garden on Tuesday. 

Press Secretariat Head Nigusu Tilahun said on the occasion that the government and the people are pulling resources to fulfill very crucial national agendas.

He noted that the successful completion of the first filling of the Grand Ethiopian Renaissance Dam is one of the indicators of these strong collaborations.

The green legacy campaign, which was initiated by Prime Minister Abiy Ahmed last year, is expanding wide and effectively, Nigusu added.

According to him, the nation has managed to plant over 3.5 billion tree seedlings out of the five billion trees to be planted this rainy season.

Highlighting the role of media in supporting the achievement of the campaign, he said the “media should play their role in realizing green legacy and other national development activities.” (ENA)

Ethiopia, UK sign two grant agreements amounting to GBP 105 mln

Ethiopia and the United Kingdom have signed this week two grant agreements amounting to GBP 105 million.

According to the first grant agreement, the UK government will finance 60 million pound for the implementation of Land Investment for Transformation, Phase 2 (LIFT-UP) program.

The objective of the program is to bring transformative, systematic, and sustainable change in land certification and market system in Amhara, Oromia, Tigray and Southern Nations, Nationalities and Peoples Region (SNNPR) regional states, the Ministry of Finance said in a press release.   

The main outputs of the program are to anticipate 7 million land parcels (out of a total of 36 million uncertified) with second-level land certification, and computerizing 103 districts (woredas) land administration systems where second-level certification has taken place, it added.

The second grant agreement that amounts 45 million pound will be earmarked for the support of Accelerating Ethiopia’s Economic Transformation (ACCELERATE) program, which is designed in line with out-ward oriented, manufacturing led sustainable and inclusive growth program of Ethiopia. (ENA)

Nile Insurance Company purchases 12 mln birr bond to finance GERD construction

Nile Insurance on Tuesday purchased additional bonds worth 12 million birr to help finance the construction of the Grand Ethiopian Renaissance Dam (GERD). 

The CEO of the Company, Yared Molla, said on the occasion that the Company had purchased a total of 51.2 million birr worth bonds in six rounds.

This bond is the 7th round of purchase that brings the total amount of contribution so far made by the company to 63.2 million birr.  

Expressing his joy over the successful completion of the first year filling of the GERD, the CEO called on all Ethiopians to continue their unreserved support to the realization of the dam as it is “the symbol of national unity and pride.”

Deputy General Director of the Office of National Council for the Coordination of Public Participation on the GERD, Fikrte Te’amr commended the company for its support and capitalized on the need for a strong collaboration among all Ethiopians, financial institutions and other stakeholder to make the dam a reality. (ENA)

Gov’t reforms to drive Ethiopia’s tourism industry: JLL

JLL, one of the world’s leading real estate investment and advisory firms, this week released its overview of the hotel industry in Ethiopia.

The report examines the factors that make Ethiopia a unique tourist destination as well as the impact of COVID-19 on tourism in the region.

As of March 2020, international arrivals in Ethiopia decreased by 35.5 percent year-on-year to 118,950 mainly due to decreased flights, as well as cancellations by Ethiopian Airlines, which flies to over 80 destinations worldwide from Addis Ababa.

According to the report, the country’s tourism sector shows tremendous potential for growth given it is home to nine world heritage sites, as well as government measures to improve the investment landscape.

This includes relaxed visa policies, enabling nationals as well as residents from the African Union to obtain visa’s on arrival, which saw the Africa Visa Index go up by 32 places to secure a top 20 position in 2019.

Ethiopia is said to have one of the fastest growing economies in Africa. (FBC)