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IFAD offers co-funding of USD 305 mln for farmers’ program

The International Fund for Agricultural Development (IFAD), one of the three Rome-based UN agencies, has agreed to provide USD 40 million as part of the USD 305.7 million co-financing needed to back the Rural Financial Intermediation Program the Government of Ethiopia is about to implement.

Japanese delegation ink MoC, makes no investment commitments

Yet again another Japanese business mission to Ethiopia ends with no significant investment commitments being made, except advising the authorities to consider easing business procedures and policies, putting in place environmental safety regulation and improve the pool of skilled manpower, The Reporter has learnt. 

Bumpy Ride Ahead

For the tax authority, which has been busy defending its excise tax revision to stakeholders and taxpayers, this week; the decision to levy progressive and prohibitive tax on the used car business in Ethiopia was one long overdue. Presented at one of the discussion platforms organized by the authority, a study, conducted by the authority, estimated that in Ethiopia, used cars consume on average 76 percent additional fuel than their counterparts.

Ethiopian power EX-CEO faces corruption charges

The former CEO of Ethiopian Electric Power (EEP), Azeb Asnake (Eng.), became the latest high-ranking official to be implicated in the high-profile corruption case involving the USD 6 billion Grand Ethiopian Renaissance Dam (GERD), it was learnt.