The China Import Export Bank (EXIM) signed a loan agreement of nearly USD 3 billion with Ethiopia and Djibouti on May 22, 2013 to finance the construction of the 756km long Addis Ababa-Djibouti railway project.
Ethiopia has earned USD 229 million from the export of manufactured goods in the last ten months of the current Ethiopian Fiscal Year, exceeding the amount earned the same period last year by more than 4.2 percent, according to the Ministry of Industry.
Public Relations Directorate Director Melaku Taye told Walta Information Center that the revenue was earned through the exports of textiles and clothes, leather and leather products, agro-processing, Pharmaceuticals and chemical products to different countries. Add a comment Add a commentEthio Life & General Insurance to introduce new micro-insurance product called "Women Specific Group Credit Life Insurance".
During the launch this month, the insurance company will hand certificate of insurance to 52 Women's saving and credit cooperatives organized under the organization, Women in Self Employment. Add a comment Add a commentThe Ethiopian Revenue and Customs Authority (ERCA) announced the finalization of a draft amendment for taxation laws.
The Ethiopian Commodity Exchange (ECX) has accepted all the participants, except one, of its exclusive auction for farmers’ cooperatives seats on May 16, 2013. ECX floated the 30 seats in April 2013, reserving 12 for coffee, 10 for sesame and five for haricot supplying cooperatives, with the remaining three left open for other commodities.
The bid has attracted few participants despite the exchange has postponed the closing date of the bid to encourage more cooperatives to participate. ECX said 25 cooperatives had bought the bid document, but only 19 made offers.
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