Council of Ministers Refers Several Proclamations to HPR

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Addis Abeba (ENA) july 17/2020 The Council of Ministers, in its 87th regular session today, has passed various directives and referred proclamations to the House of People’s Representatives (HPR) for approval. 

According to a press release of the Office of the Prime Minister, the Council deliberated on the draft bill of various loan agreements proposed by the Ministry of Finance for approval.

The two loan agreements were signed with Korea Export-Import Bank aimed at responding for COVID-19 Immediate Response Budget Support Program and the implementation of medical equipment supplies. 

While the third loan agreement was signed with Danske Bank, a Danish banking group, to execute the Assala wind power plant project. All three loan agreements have low interest rates less than one percent.

The draft loan bills referred to the House of People’s Representatives for approval.

Moreover, the Council deliberated on the draft bill for the establishment of Strategic Affairs Institute that help to conduce researches on national and regional peace and security issues as well as facilitating discussions on national reconciliation, state building and other related issues.

The council approved the establishment of Strategic Affairs Institute to put into effect.

Finally, the Council discussed on the draft investment regulation that will help to avoid investment bottlenecks, attract foreign and domestic investors.

The Council approved the implementation of the draft regulation to put in place.