Ethiopian Ministry of Culture & Tourism secured a US$200,000 fund from the European Union to assist the establishment of the Ethiopian Tourism Enterprise and Tourism Transformation Council.
The financing will be used to hire consultants to study the design and organizational structure of the two entities, Fortune reported.
European Union (EU) and the US Power Africa Initiative on July 14, 2015, signed a Memorandum of Understanding (MoU) to back the endeavors to advance power generation and access to electricity in Sub-Saharan Africa, according to a press statement of the US Embassy in Ethiopia.
For the purpose expanding Addis Ababa’s sewerage treatment, the City Administration concluded a Memorandum of Understanding (MoU) with Actor and Denis, companies from Greece and Belgium.
The European Investment Bank (EIB) will support private equity investment across Ethiopia though support for the new USD 100m Cepheus Growth Capital Fund. The EIB’s USD 10 million participation represents the first backing for an Ethiopia focused fund and one of the first engagements with a single country private equity fund in Africa by Europe’s long-term lending institution.
Ethiopia's Ministry of Finance announced that the new draft excise law has made revisions on new cars, bottled water, and tobacco.
