The Ministry of Planning and Development (MoPD) announced that Ethiopia secured Birr 180 billion in revenue and attracted USD 890 million in foreign direct investment (FDI) in the first quarter of the fiscal year.
Ethiopia has reached an Agreement in Principle (AIP) with its Official Creditor Committee (OCC) on the key financial parameters of a debt treatment plan under the G20 Common Framework, covering approximately USD 8.4 billion in outstanding public debt.
Ethiopia's creditors have extended the deadline for finalizing discussions with the International Monetary Fund (IMF) on a loan agreement.
Ethiopia secured a loan from the World Bank for the construction of substations for the project of the power 
interconnection of Ethiopia and Kenya. The loan was confirmed by Haji Mohammed, Head of Public Relations, for the Ministry of Finance and Economic Development.
Delegates including Mihret Debebe Chief Executive of the Ethiopian Electric Power Corporation traveled in Washington DC to the bank headquarters to negotiate the terms of the loan. The loan agreement will be signed between Ethiopia and the World Bank this coming July.
It is expected that the project will be launched next year and is expected to supply 400 MW of electricity in four years.
Ethiopia's Ministry of Finance announced that it has collected $769.9 million from exports in the first quarter of the Ethiopian fiscal year, which started on July 7, 2020. The amount has shown an increase of $46.9 million compared to the same quarter last year.
