The United Arab Emirates agreed to give Ethiopia a total of USD 3 billion in aid and investments.
The UAE agreed to alleviate the shortage of foreign currency by depositing USD 1 billion in the National Bank of Ethiopia. As per the agreement, the remaining 2 billion dollars will be allocated for different investment programs such as industrial parks, manufacturing, hospitals, hotels, and malls.
The U.A.E based Falcon Petroleum Ltd is conducting a seismic survey of its Blue Nile Concession in Wereilu South Wollo Zone, Amhara National Regional State of Ethiopia.
Falcon Petroleum has contracted the Italian company,GeoDynamics Research to carry out the seismic survey. GeoDynamics is carrying out a passive seismic survey for the third time in Ethiopia. Previously the GeoDynamics had conducted two passive seismic surveys named Wereilu I and II.
The Khalifa Fund for Enterprise Development (KEFD) of the United Arab Emirates signed a deal to loan $100 million to Ethiopia.
The Japanese Company, UCC Ueshima Coffee Ltd., disclosed on August 24, 2015, that it would hold coffee quality contest in Ethiopia in mid March, 2016.
A Business Delegation led by the Minister for Climate Change is to visit Ethiopia for two days announced the British Embassy in Ethiopia.
The delegation consists of 19 business people representing 14 companies to hold discussions with relevant business people starting on the 4th of October said the press release.
The delegation will discuss ways in which investors engage in Power Development Investment in the UK and share that country’s experience with renewable energy development.
The companies represented by the delegation will be interested in finding out the opportunities for investment in renewable energy development and distribution in Ethiopia it was said.
