Ethiopia’s Ministry of Agriculture and Natural Resource Development disclosed it has imported 817,000 metric tons of fertilizer. The imported fertilizers are aimed to be distributed to farmers during the coming rainy season.
Ethiopian President Mulatu Teshome said Ethiopia seeks to involve German investors in its investment sectors.
Ethiopia received 50 million US dollars from the Climate Investment Fund after the country’s investment plan under the Scaling Up Renewable Energy Program for Low Income Countries was approved by the committee members for the CIF.
The decision was rendered at the CIF committee meetings that took place in Washington DC from the 30th April to the 4th of May. The African Development Bank, as the implementing agency of the Climate Investment Fund, represented African interests at the week-long meetings.
The plan presented by Ethiopia calls for the African Bank to offer investment and technical support to execute Phase II of the Aluto Langano Geo-thermal Project and Assela Wind Farm Project. The AFDB is expected to inject 23 million US dollars of the total SREP financing to the Ethiopian projects.
Ethiopia has received 1.69 billion US dollars in loans and grants in the last six months of the current budget year said Tewdros Adhanom, Ethiopian Minister of Foreign Affairs.
Most of the financing, an estimated 1.04 billion, was obtained from bilateral sources and the remaining funds from multilateral financial sources he said in his report to the House of Peoples Representatives.
The nation has also acquired 976.8 million US dollars from donors and creditors in this period according to Tewdros.Ethiopia has received an 80 million dollar soft loan for a project to construct and expand electric power transmission lines from
EDCF, South Korean state bank announced the Ethiopian Electric Power Corporation.
The loan agreement will be signed between the Ethiopian Ministry of Finance and Economic Development and a representative of the Korean government here in Addis Ababa soon.
The project is an expansion of the Beles-Bahir Dar- Sululta transmission line stretching from Debremarkos-Gebreguracha-Sululuta over 212 KM and carrying 400 KV explained Misikir Negash Head of Corporate Communications with the EEPCo.
