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Ethiopia's Habesha Cement S.C has submitted loan application to the Common Market for Eastern & Southern Africa’s (COMESA) PTA Bank located in Burundi. The loan application ensued after the government owned Development Bank of Ethiopia reverse its assurance to finance more than half of the project cost to install a cement factory in Holleta town in the outskirt of Addis Ababa.

Jan Mikkelsen, IMF Resident Representative to Ethiopia said, Ethiopia’s foreign reserve, which could cover less than two months of the country’s import bill as of last September, has now improved to cover more than two months of import bill. Add a comment Add a comment

The Ethiopian House of Peoples Representatives approved two loan agreements totaling USD 479 million appropriated for regional infrastructure development on last Thursday before it goes on for recess.The House approved the loan agreements extended by the International Development Association (IDA) to finance almost half the project cost to develop the East African Regional grid line, and a USD 236.4 million loan from African Development Fund (ADF) to partly finance the the Ethio-Kenya High Voltage Transmission grid line. The loan agreement accrues zero interest rate and will be due in 40 years including the grace period.

FloSec, a swiss based company unveiled a technology for tracking goods and securing commercial transaction documents on Wednesday February 6th Hilton Addis, Ethiopia. Representatives of The Djibouti Port (DP), Ethiopian Government officials and representatives from the privates sector were present on the occasion.