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.
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.
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.
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.
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.
Prime Minister Abiy Ahmed (PhD) has approved the appointments of three new vice governors for the National Bank of Ethiopia (NBE), Ethiopia’s central banking institution. However, the top picks for the positions has been met with mixed reaction from finance and economic experts.