Ethiopia's Oromia Industrial Parks Development Corporation inked an agreement for the construction of an agro-industrial park resting on 250 hectares of land at a cost of 7.8 billion birr. The industrial park, which is to be built in the town of Nekemte, will be constructed by Walabu Construction Share Company.
Commercial Bank of Ethiopia (CBE), Ethiopia's largest bank, announced that it has raised loan service charge rates to 9.8 percent, from the previous 8.63 percent.
Ethiopia's Ministry of Trade and Industry announced that it has decided to cut down fuel subsidy to 75 percent, subsequently slightly raising fuel prices so users cover the 25 percent. The Ministry has related that the Ethiopian government has spent 24.05 billion birr (over $608.5 million) for oil price subsidy in the last two years alone.
A foundation stone has been laid for the construction of an international airport in the town of Gode, in eastern Ethiopia's Somali region. The new international airport is named "Miraad Leyli International Airport", named after a local martyr.
Efforts will be exerted to enable Mugher Cement Factory to produce cement with full capacity, increasing its production volume and market share, Ethiopia's Minister of Mines and Petroleum Takele Uma remarked.
| USD |  |
41.0149 | 40.2107 |
| EUR |  |
49.3696 | 48.4016 |
| GBP |  |
54.6098 | 53.5390 |
| CAD |  |
29.3520 | 28.7765 |
| AED |  |
10.1044 | 9.9063 |
| CHF |  |
42.4138 | 41.5822 |
