Council of Ministers approves the receipt of USD 1.13 billion in loans
The loans are going to be used to finance four development projects that the government is undertaking.
Banks prohibited from giving out loan insurance appeal to the government to intercede on their behalf
In related developments, the National Bank of Ethiopia has also introduced a new paid-up capital requirement for banks.
National Bank directives on foreign currency
Ethiopia is currently in dire need of increasing its foreign currency reserves but the policies it has adopted to do that have had negative ripple effects even on its foreign…
African Development Bank seeks to finance Ethiopia’s Digital Modernisation
The fund is part of African Development Bank's Africa Digital Financial Inclusion (AFDI), a program that is a collaboration with the Bill and Melinda Gates Foundation and the governments of…
Amhara Bank feuding with commercial banks
The feud is over interest payments to Amhara Bank for using its accounts; commercial banks say they are not required to pay interest on closed accounts.
New stimulus package for Ethiopia’s hospitality sector approved
The first stimulus package for the hospitality industry expired on November 10th, 2020.
Ethio Lease provides medical scanners to Alayton Hospital
Ethio Lease has also provided more than 85 combine harvesters to farmers across Ethiopia.