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Nation in consultation to resume fuel import from Sudan

Ethiopia and Sudan have been discussing on how to resume fuel import that has been disrupted for weeks following the COVID-19 outbreak, Ethiopian Petroleum Supply Enterprise (EPSE) said.

EPSE Higher Expert, Alemayehu Tsegaye said on Tuesday that the county imports 20 percent of benzene from neighboring Sudan. In response to coronavirus outbreak, Sudan has closed its border with Ethiopia, but it has agreed to export benzene starting from next week.

Now fuel trucks are on the way to Metema, Ethiopian border town with Sudan, he added.

Ethiopia’s daily consumption is 2.2 million liters of benzene, of which 800,000 liters are consumed by Addis Ababa alone. Twelve fuel trucks bring benzene from Sudan per day, but due to COVID-19, Sudan has stopped its fuel export.

“Even though there is no fuel shortage in the country, we are still witnessing unreasonable long queues at some gas stations particularly in Addis Ababa.”

The fuel import via Djibouti has not interrupted yet. (The Ethiopian Herald)

ECX transacts 3.84 bln birr worth commodities

The Ethiopia Commodity Exchange (ECX) disclosed on Wednesday that it has executed commodities worth 3.84 billion Birr last month, transacting 74,950 tons of goods.

In a statement ECX sent to ENA, the commodity market was able to trade various goods including coffee, sesame, soya beans, white and red pea beans, and green mung bean.

Accordingly, coffee took the largest share, contributing 29,784 tons followed by sesame which is 23, 691 tons of the total shares of commodities.

Coffee has the lion share in transaction with recording 40 percent volume and 63 percent of commodity price.

Compared to the preceding month, the transaction of coffee has seen a 17 percent increase in volume and 5 percent rise in price. 

Of the total amount of coffee transaction, coffee exported amount shares 70 percent volume and 66 percent price in the transaction.

Soya beans, white and red pea bean, and green mung bean follow the same suit in volume, respectively. (ENA)

UK funds 22 mln to Ethiopia’s global leadership in fight against Covid-19

The UK Department for International Development (DfID) announced on Tuesday that it is going to provide GBP 22 million to Ethiopia as part of global leadership in fight against Covid-19.

In a statement the British embassy in Addis Ababa released, the embassy said the UK has just allocated 12million Pounds (approximately more than 450 million birr) to UNICEF to prevent the spread of Covid-19 in Ethiopia;   The seven million (over 270 million birr) has been agreed with UN-OCHA to coordinate the response to the virus and respond to other humanitarian needs.

 In addition, a further 3 million (over 120 million birr) will be provided to support the Government of Ethiopia, according to the press release.

“This will include helping to ensure that essential goods – such as food and medical equipment – can be imported and distributed. Some of the funding will also be invested in infection control measures to keep industrial parks open, protecting people’s jobs and keeping workers safe,” it added. (Press Release)

AfDB unveils USD 10 bln response facility to curb COVID-19

 

The African Development Bank Group on Wednesday unveils 10 billion USD for the creation of COVID-19 Response Facility to assist regional member countries in fighting the pandemic.

In a press release, AfDB revealed that the facility is the latest measure taken by the Bank to respond to the pandemic and will be the institution’s primary channel for its efforts to address the crisis.

President of the AfDB, Akinwumi Adesina said the package took into account the fiscal challenges that many African countries are facing.

“Africa is facing enormous fiscal challenges to respond to the coronavirus pandemic effectively,” he said.

 “We must protect lives; this Facility will help African countries to fast-track their efforts to contain the rapid spread of COVID-19,” he added.

The Facility entails 5.5 billion USD for sovereign operations in African Development Bank countries, and 3.1 billion USD for sovereign and regional operations for countries under the African Development Fund, the Bank Group’s concessional arm that caters to fragile countries. (Press Release)