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Gov’t requests 27.9 bln birr additional budget

The Government of Ethiopia has tabled a request for a supplementary budget close to 27.9 billion birr before the House of People’s Representatives (HPR). The latest request comes four months before the current fiscal year ends and is an additional federal budget to the current year [2012 E.C] which amounts to 387 billion birr.

Ethio Lease to mechanise the agriculture sector

The first foreign-owned leasing company, Ethio Lease, yesterday signed Memorandum of Understanding (MoU) with the Ministry of Agriculture and the Agricultural Transformation Agency (ATA) enabling it to lease agriculture machineries to ATA sponsored farmers’ mechanisation centres.  

DFC chief visits Ethiopia  

The Chief Executive Officer of the United Development Finance Corporation (DFC), Adam Boehler visited Ethiopia this week and held a meeting with sections of the leadership including Prime Minister Abiy Ahmed (PhD), on how to support the slew of reform initiatives on the nation’s developmental goals.

MPs approve USD 700 mln loan agreements

In its third regular session, the House of People’s Representatives (HPR) has approved financial agreements worth some USD 700 million, the Ethiopian government had signed with various countries and multilateral organizations.

IFC injects EUR 20 mln in Soufflet Ethiopia

The International Finance Corporation (IFC), a member of the World Bank Group, has financially backed Soufflet Malt Ethiopia – a subsidiary of the French-based Gruope Soufflet – with EUR 20 million to help expand the company’s malt production and for its role involving some 40,000 smallholder farmers in the value chain.

Gov’t drafts national sugar policy

The Ethiopian government which has embarked on privatizing state-owned sugar factories, is drafting a national sugar development policy and proclamation that would regulate the local sugar industry.