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Ethiopia's House of People's Representatives passed the livestock trading law on Tuesday, January 21, 2014, Fortune reported.

Ethiopia’s lower house, House of Peoples’ Representative, ratified 3 loans which will be used to finance 2 road construction projects in Addis Ababa and upgrading an electric grid system in the capital city. The move was done 2 weeks after MPs asked Budget and Finance Affairs Standing Committee to assess the nation’s debt repayment capacity. Before the loans were approved, the Committee explained to members of the house the loans will not burden the country and that the country has the capacity to repay the loans.

The House of Representatives reviewed a bill proposing changes to the export tax incentive system. The amendment aims to boost industrial growth and foreign currency acquisition by empowering the executive branch with time limit adjustments and reducing penalties for unused imported raw materials.

Government Houses Agency disclosed it managed to generate an income close to 150 million Birr in the first 6 months of the current fiscal year. The performance is 12 percent lower than the preceding year’s same period.

Ethiopia’s lower house, House of Peoples’ Representatives (HPR), adopted 6 loan agreements in its 42nd regular session. The loan agreements were concluded with the International Development Association (IDA), Japan International Cooperation Agency (JICA) and the Italian Government.