United States’ Export-Import Bank approved a loan of USD 281 million to Ethiopian Airlines Group. The loan would be used to finance the import of several Boeing 737 MAX 8 aircrafts which will be fully imported by the end of March 2023. The Board of Directors of the bank approved the loan unanimously.
The Ministry of Agriculture disclosed that Ethiopia would start exporting wheat to East African countries including Kenya, Djibouti, and South Sudan. According to Isais Lemma, Director of Crop Development at the Ministry, Ethiopia has met the national demand for wheat after increasing wheat productivity.
The House of Peoples’ Representatives of Ethiopia (HPR) approved the National Payment System Proclamation and Public Private Partnership (PPP) Proclamation yesterday. The National Payment System Proclamation was proclaimed as Proclamation No. 1282/2022 repealing the existing proclamation 718/2011. The Parliament also approved the draft PPP Proclamation as Proclamation 1283/2022 amending Proclamation 1076/2018.
The Ministry of Trade and Regional Integration (MoTRI) announced that the Government would no longer involve in the Ethiopian cement market. According to the Ministry, cement will be sold in a free market starting from today.
Gadaa Bank announced that it had started operation with Birr 552 million paid-up capital and Birr 1.1 billion subscribed capital. The bank has more than 28 thousand shareholders.
The bank held its first subscribers’ meeting last year in the presence of the President of Oromia Regional State, Shimels Abdissa, and other officials after it raised a paid-up capital of Birr 600 million. According to Addis Fortune, one of the largest English Newspapers in Ethiopia, enterprises and companies based in Oromia Regional State hold a large stake in the bank.
Source: Fana BC and Addis Fortune
Image source: Fana BC
