2merkato

Ethiopia launched a Climate Resilient Green Economy Facility that is expected to equip the nation with a credible instrument meeting international fiduciary standard and requirements for Measuring, Reporting and Verification.

The launch presided by Ahmed Shide, State Minister for Finance and Economic Development was attended by government officials, developmental partners and UN agencies.

The facility is expected to support a strategic approach to climate policy and offer technical and financial support to issues related to climate change reducing the cost and duplication associated with a project centered approach said Ahmed.

The Ethiopian Commodity Exchange Authority is prepared to establish three branch offices in the regional cities of Gondar, Jimma and Harrar in the current fiscal year.

The branch offices will be in close proximity to warehouses in regional areas that are operated by the Ethiopian Commodity Exchange with the aim of assisting supervision by the management in Addis Ababa.

The plans to construct the three branches were developed in the previous financial year through a mandate given to the exchange as part of the proclamation that established the authority.

Ethiopia is to invite international consultants to perform a study to facilitate the transformation of the newly corporate Ethiopian Shipping Lines and Logistics Service Enterprise.

The government has already prepared the bid documents and the Term of Reference to be made public in three weeks according to sources.

The study is expected to strengthen the management of the new enterprise to achieve a higher level of competence said the sources.

Operators in the tour and travel sector in Ethiopia protested against the revocation of duty free privileges enacted by the Ethiopian Revenues and Customs Authority.

The association representing Tour and Travel companies said the decision to revoke the duty free status of vehicles imported by players in the sector was unfair and requested an intervention from the Ministry of Culture and Tourism to mediate the situation.

ERCA reached the decision because most of the vehicles imported by Tour and Travel companies are not being used for the purposes intended according to a letter signed by Gebrewahid Gebregiorgis, Deputy Director of the tax authority.