Addis Ababa, July 26/2024 (ENA) African countries are seeking a platform that can address the “biased and the skewed nature of the current global tax system” which has been benefiting richer capital exporting countries, Tax Justice Network Africa (TJNA) Executive Director Chenai Mukumba said. Speaking to ENA on the sidelines of the first Preparatory Committee Conference for the Fourth International Conference on Financing for Development, the executive director noted that the challenges of the African tax systems are broad and diverse. For example, there is a need for Africa to address a number of national level concerns. But if we don't tackle unlimited the amount of revenue we are able to raise domestically, we will face a problem. There are, however, issues that African countries need to promote and advocate at the international level at the same time to support the domestic efforts to raise resources, she added. The main focus of the discussions during the Financing for Development Conference was the international economic governance that we are really pushing in order to promote the reform of the global tax system.   “Essentially, what African countries are saying is that we need a platform that is inclusive, that is democratic, and that understands our context and our constraints; and also a platform that can address currently the bias and the skewed nature of the current global tax system that's benefiting richer capital exporting countries.” On the other hand, African countries have some of the lowest tax to GDP ratios in the world, lower than any other region, the executive director stated. “That’s due to some domestic issues, but it's also due to a number of international issues. Now at the international level, there's a push by African countries to see if we can move the platform where we talk about global rule-making from the OECD to the United Nations.” The reason for this is because the United Nations, at least all African countries, have to have a say in the discussions about the reform of the global tax system. Mukumba said if African countries have a say they can then push for a global tax system that understands the context of African countries. In 2022, the African Group tabled a proposal to begin discussion about how to enhance international tax cooperation, she said. The proposal was adopted by consensus at the UN.   The Africa Group, as much as they are really pushing for a progressive global tax system, there is a significant push back, the executive director revealed. “What we need is to see much more support for the negotiations that are happening in New York. We need to see our ministries of finance for member states and ministries of foreign affairs promoting and supporting that process.” Hence, a holistic approach is needed to address the interconnected national, international and systemic challenges for financing for development, according to Mukumba. Moreover, she stressed that the reform of the international financial architecture is essential as national development efforts need to be supported by enabling international economic environments.

Addis Ababa, July 26/2024(ENA) Ethiopia has immense potential for blue economy vital to expedite its development endeavors, according to Blue Economy Division Head of the AU Commission and Program Manager for Sustainable Environment Protection Program Manager of IGAD. Blue economy is economic activities that are associated with natural resources found in water bodies including oceans, rivers and lakes. Ethiopia is an African nation that is endowed with immense fresh water resources such as lakes and rivers that have enormous potentials to develop the blue economy of the country. Blue Economy Division Head at AU Commission Georgeo Asseko and IGAD Sustainable Environment Protection Program Manager, Eshete Dejen have insisted Ethiopia to fully utilize its immense potentials in blue economy. Asseko told ENA that with taking innovative and advanced technologies as well as keeping the resources from pollution and environmental degradation, Ethiopia can fully utilize and transform this potential in to economy and social development. He pointed out that tourism, energy, transport, and fishery, among others are some of the benefits that the nation would gain from blue economy. “Ethiopia is always on the way; and we are glad to say that it is one of the countries we are following. So, there is a huge potential also for Ethiopia to develop blue economy,” Asseko stated. In this regard, African Union Commission is working on creating regional economic community through building the capacity of member states to understand the concept of blue economy and to see its opportunities for sustainable development, he underscored. Reiterating on Ethiopia’s immense potential in blue economy, IGAD Sustainable Environment Protection Program Manager, Eshete Dejen on his part said “Ethiopia has huge resource in terms of blue economy like hydropower, marine and inland transport, and tourism.”   Fishery and tourist attraction sites of Lake Tana and Lake Ziway as well as the great source of hydropower generation, GERD can be best examples of the nation’s gifted blue economy. Insisting Ethiopia to fully utilize its opportunities of blue economy, IGAD stands ready in supporting Ethiopia in developing blue economy strategy, resource mobilization and capacity building. “We are supporting member states in terms of developing their strategy, resource mobilization, capacity building and knowledge sharing,” Eshete noted. He further underscored that Ethiopia’s abundant fresh water resources offer exceptional opportunities for transformative economic and social development of the country. Blue Economy is among the main strategic focus areas of Ethiopia’s ten-year economic perspective plan.

Addis Ababa, July 26/2024 (ENA)The first Preparatory Committee Conference for the Fourth International Conference on Financing for Development has been successfully concluded stressing the importance of collective efforts to tackle the global challenges to pave the way for sustainable development financing. The conference was held from July 22-26/2024 in Addis Ababa as one of the four preparatory sessions to review progresses on Addis Ababa Action Agenda and identifying actions and solutions to accelerate the implementation of Sustainable Development Goals (SDGs). The conference was organized to prepare for the upcoming Fourth International Conference on Financing for Development that will be held in Spain in 2025. The conference mainly discussed domestic resource mobilization, sustainable debt management, addressing systemic issues climate changes and global challenges, innovative financing and strengthening development cooperation during the ministerial and technical segments. Recognizing the negative impacts of various global crises on the implementation of the SDGs, the conference stressed the importance of collective efforts to tackle the global challenges to pave the way for sustainable development financing. Furthermore, the conference also emphasized that correcting macro-economic imbalances through diversification of resources and rapid economic growth driven by reforms and responsive policies are important measures to fix systemic issues. Increasing climate financing through innovative financing mechanisms has been discussed as crucial step to support mitigation, adaptation and resilience building efforts in response to growing climate change induced calamities. Resolving the huge debt burden of developing countries was also stressed in the conference. As stated by most of the UN member states, debt service has been narrowing the fiscal spaces of developing countries to invest on basic social services. In this regard, the importance of debt restructuring and use of strict policy measures for sustainable debt management were mentioned as way forward actions. The conference also underscored that improving the capacity of domestic resource mobilization is critical to finance sustainable development. In this regard, digitalizing the tax system and broadening the tax base, leveraging the potential of the private sector through various mechanisms has been stressed as important means to finance sustainable development. Finally, strengthening multilateralism and development cooperation were underlined as important measures to enhance partnerships and collaboration on the implementation of SDGs and agenda 2030. Mainly, reforming the international financial institutions to better represent and reflect the views of developing countries as well as honoring the commitments of Official Development Assistance (ODA) and increasing non-concessional funding have been identified as important measure to finance sustainable development. Hosted by Ethiopia, the conference was attended by more than 850 delegates from UN member states, including ministers, representatives of UN organizations, regional and international organizations, CSOs and academia. The participants actively engaged in both ministerial and technical substantive discussions to identify priorities, challenges, and opportunities for sustainable development financing and accelerating the SDGs. The conference was officially closed by Ahmed Shide, Minister of Finance of Ethiopia, the Under-Secretary-General for Economic and Social Affairs and the preparatory committee co-chairs. On the occasion, the minister expressed that Ethiopia is honored by hosting this important international event and he thanked all the participants and the organizers who played critical roles for the successful undertaking of the conference.  

Addis Ababa, July 26/2024 (ENA) Trade and Regional Integration Minister Kassahun Gofe and Russia’s Economy Minister Maxim Reshetnikov had bilateral meetings in Moscow. In their meeting on the sidelines of the 14th BRICS Trade Ministers Meeting, ministers of the two countries agreed to develop joint plan to enhance trade exchange, and collaborate on multilateral issues. At the meeting that concluded today, a delegation led by Kassahun discussed about how to strengthen the multilateral trading system and providing favorable business climate as well as advancing innovative and digital solutions for resilient economic growth.              

Addis Ababa, July 26/2024(ENA)-The Ethiopian Shipping and Logistics (ESL) Enterprise has secured over 57 billion Birr in revenue during the concluded Ethiopian Fiscal Year. Briefing the media today, ESL CEO Beriso Amelo revealed that the country earned 57.14 billion Birr revenue, exceeding the target 51.06 billion Birr. According to him, the enterprise secured 8.86 billion Birr profit before tax, surpassing the target by 132 percent. Regarding foreign exchange earnings, ESL has secured 420.67 million USD. The CEO stated that the enterprise has transported 3,749,141 tons during the stated period. CEO Beriso said the overall success registered is due to the reform activities undertaken, including the enhancement of efficiency and expansion of destinations. He added that ESL saved 19 million USD by negotiating ocean transport cost less than 'spot rate'.

Addis Ababa,July 26/2024(ENA)- Algeria's Ambassador to Ethiopia, Mohamed Lamin Labas, affirmed the growing strength of the bilateral relationship between the two nations, rooted in diverse areas of cooperation. In his exclusive interview with ENA, the ambassador highlighted the longstanding friendship between Ethiopia and Algeria, forged during Algeria's struggle for independence, which Ethiopia staunchly supported in various ways including political support. This historical bond has deepened over time, with both countries offering mutual support and collaborating to address shared political challenges, the Ambassador emphasized, adding that the partnership has extended to cultural exchange, exemplified by the numerous Ethiopian students pursuing education in Algeria. According to the Ambassador, economic cooperation is a key focus, with a joint strategy emphasizing trade, investment, and people-to-people connections. Recent visits by Algerian pharmaceutical industry delegates underscore the growing interest in investment opportunities. This group of Algerian delegation, which comprised of well-equipped with international laboratories based in Algiers, is expected to come to Ethiopia and start investment in the sector soon. Algeria is keen to share its success in the pharmaceutical industry to Ethiopia as the sector contribute a lot in job creation and import substitution, the ambassador said. He mentioned that the two countries have put in place the mechanisms of cooperation by exchanges of business delegations,” he pointed out. Additionally, efforts are underway to bolster agricultural investment and expand air transport to facilitate trade in coffee, flowers, and other products,” he stated. Over 20 agreements have been established in various sectors, including trade, investment, and tax avoidance. He stressed the importance of political commitment to implement these agreements effectively, emphasizing the role of high-level consultations and the joint commission in guiding the partnership. “Ethiopia and Algeria also share common ground on international issues, particularly peace, security, and climate change,” the Ambassador underscored. He also commended Ethiopia's reforestation efforts as an exemplary model for other nations. Reflecting on his four decades in Ethiopia, Ambassador Labas expressed admiration for the country's remarkable development progress. It's worth noting that diplomatic relations between Algeria and Ethiopia were established in the early 1970s. Ethiopian Foreign Minister Ambassador Taye Atske _Selassie bade farewell to Algerian Ambassador to Ethiopia yesterday. On the occasion, Ambassador Taye commended the longstanding and fruitful relations between the two countries and appreciated Labbas' efforts to boost bilateral ties. Ambassador Labbas, who served in Ethiopia twice, as first secretary from 1986-1990 and as Ambassador from 2022-2024, expressed delight in witnessing Ethiopia's development during his tenure.  

Addis Ababa July 25/2024 (ENA) The European Union has expressed its commitment to support Ethiopia’s economic reform, green transition, and international gateway strategy. Planning and Development Minister Fitsum Assefa held discussion with EU International Partnership (INTPA) Director for Sustainable Finance Antti Karhunen, who is in Addis Ababa for the 4th International Finance for Development (FfD) Preparatory Committee meeting today. The director, on behalf of the EU, has expressed her sorrow over the recent loss of life in the landslide that occurred in Gofa Zone, according to Ministry of Planning and Development. The European Union is ready to offer financial assistance and has been coordinating with the committee established by the Federal Disaster Management Commission, she said.   The planning and development minister appreciated the swift response of the European Union for the crisis, and underscored the importance of a long-term climate adaptation strategy in conjunction with immediate humanitarian aid. Ethiopia's efforts to strengthen ties with the European Union was also discussed. With respect to human rights abuse, she stated that the legal framework for the transitional justice is nearing completion, and the establishment of the National Dialogue Commission is crucial in achieving enduring peace in the country. Fitsum also outlined Ethiopia's domestic economic reforms and the country's progress in enhancing competitiveness and investment climate. The minister added that the COVID pandemic and climate-induced challenges in eastern and southeastern Ethiopia have impeded progress on some reforms. During the discussion, Antti Karhunen reaffirmed EU's commitment to supporting Ethiopia's economic reform, green transition, and international gateway strategy. She mentioned that the European Union is contributing 650 million euros to Ethiopia through the Multilateral Annual Indicator Program (MIP) as part of the overall support. For her part, the minister pointed out the importance of Ethiopia taking part in the planning and execution of the MIP to guarantee its congruence with the country's developmental goals. She also called for the reinstatement of EU budget support, which is a critical component of Ethiopia's economic reform strategy. In addition, the minister raised concerns regarding the implications of the new EU Deforestation-Free Regulation (EUDR). According to her, rushed implementation of the EUDR could negatively impact millions of Ethiopian coffee producers. Fitsum emphasized that the regulation should be fully compatible with the established transitional principles outlined in international climate accords. As Ethiopia is committed to meeting the requirements of the regulation, the minister requested additional time for implementation.

Addis Ababa July 25/2024 (ENA) Ethiopia is taking the right measures, the right strategy for the development and prosperity of its people thanks to its leadership, Morocco Permanent Representative to the United Nations, Ambassador Omar Hilale said. The ambassador, who had been in Addis Ababa a decade ago, was in the capital to participate in the Preparatory Committee for the Fourth International Conference on Financing for Development (FfD4). Approached by ENA, Ambassador Hilale stated that he has witnessed the transformation of Addis Ababa due to the effective leadership and investments aimed at improving the lives of the Ethiopian population. “You have Prime Minister Abiy Ahmed, who is a real leader, taking bold economy, stability, and prosperity of your country. That is the kind of leadership that we need in Africa,” he said. According to him, “Ethiopia is taking the right measures, the right strategy for the development and prosperity of its people. Thanks to the leadership because the first key for development is to have leadership with ambitious vision for the country. ” For the ambassador, Ethiopia has decided that it's not being dictated by the North. Rather, it's making decisions for its own people by understanding their context and identifying obstacles to development. Initiatives like tree planting, mobilizing civil society, supporting small-scale, and implementing impactful projects for farmers are tangible actions, Ambassador Hilale noted, adding that this approach embodies the leadership, foresight, and vision needed to drive meaningful change. “We may not resolve all challenges at once, but effective governance and visionary leadership are essential for guiding countries towards development.” The ambassador explained that this involves making sound decisions, combating corruption, promoting inclusivity, empowering women, attracting investment, and reforming justice systems. “Ethiopia is actively pursuing these goals, setting an example of progress and transformation.” Having been here 10 years ago during the first UN conference on financing for development, he recalled the plan of action aimed at financing development in developing countries. Unfortunately, the commitments made then have not been honored, and developing countries had relied on promised financial support from the North, he lamented. Nevertheless, it's crucial to acknowledge that the North is not solely accountable for all our challenges. “We need to develop the private sector. We need to develop our own resources for development. We need to adapt our national strategies and our economic plan to our capacities to be able to finance development based on our priorities.” He finally observed that if we Africans unite, seek complementarity, and implement initiatives like the African Continental Free Trade Area (AfCFTA) adopted by the African Union, we can achieve development and growth.        

Addis Ababa, July 25/2024(ENA) Ethiopia’s Permanent Representative to the United Nations Ambassador Tesfaye Yilma told ENA that reforming International Financial Institutions (IFIs) is critical for developing countries to achieve the Sustainable Development Goals. The Permanent Representative of Ethiopia to the UN is in Addis Ababa to participate at the Preparatory Committee for the Fourth International Conference on Financing for Development (FfD4), which aimed at accelerating progress towards achieving SDGs. Ambassador Tesfaye stressed the need for inclusive, responsive, and accessible multilateral financial institutions that give developing countries a greater voice in decision-making. The SDGs are part of political commitment by the global community back then in 2015, he pointed out. For him, financial institutions are banks, supposed to make their own reform.   He warned that especially developing countries will not achieve the SDGs without reforming these institutions. “Unless we change certain things in terms of finance, we are definitely going to miss the SDGs targets. So before it's too late, the global community has to show some solidarity, has to learn together, reform the International Financial Institutions (IFIs) and mobilize sources--the finance that's necessary and meet the targets of the SDGs.” According to him, the global financial institutions reform has been a very serious agenda at the UN and for the global community as a whole, particularly for the developing world. “Ethiopia as part of a group of developing countries is going along those newly formed demands from the developing countries.” The country has integrated the SDGs into its national development plan, with over 60 percent of the national budget allocated to sectors aligned with these goals. Ethiopia is implementing a 10-year development plan, Ambassador Tesfaye said noting that all sector components are defined by the SDGs targets. For him, Ethiopia’s day to day development work is actually informed by the SDGs. It's a very important indicator for the country's development works. “Our national budget structure explains it all. SDG means the budget that we allocate to education, health, energy, infrastructure development and for climate action. All sectors are formed by the SDG targets and goals. So ours is a pro-poor investment that addresses poverty in a very straightforward manner,” he said. If you go to the SDGs 17 targets and goals, you will find them all in the target areas. So the Ethiopian development movement is basically defined by the SDGs. However, the country, like many others, faces significant financial constraints in realizing its development aspirations, he noted. “Then again, we need to get the financial support from the global community, from the IFIs, from bilateral donors, and this agenda has pushed forward; the financing component. That's the most important challenge facing the SDGs now.” The United Nations has identified the reform of the global financial system as a key priority and UN Secretary-General António Guterres has proposed 500 billion USD annual stimulus package to accelerate progress towards the SDGs. “We think it is possible to mobilize that amount of money every year and with that kind of mobilization, every developing country and every country can have the chance to meet these SDG targets,” Tesfaye said. Ethiopia will also benefit as part of the global community from that kind of stimulus. In alignment with the demand for reform, Tesfaye underscored the significance of diversifying funding avenues. “Diversification is the most important aspect and a very helpful approach to financing,” pointing from private finance, Official Development Assistance (ODA), the multilateral financial institutions, sovereign wealth funds ... Wherever they may be available, we should be able to access them all towards achieving our development goals.” There is no ideological commitment towards financing as far as we are concerned. We access capital wherever it's available, he added.  

Addis Ababa July 24/2024 (ENA) The commitment Ethiopia has shown in ensuring fair utilization of transboundary rivers is exemplary, according to Ministry of Water and Energy (MoWE). Ethiopia has been exerting efforts for the establishment of Nile Basin Cooperation Framework in order to ensure legal and just use of transboundary rivers in the past decade. In an exclusive interview with ENA, Water and Energy State Minister Abrha Adugna said Ethiopia is a country with strong principle of utilizing transboundary rivers for development through mutual benefit and cooperation. He noted also that the country has been exerting unstinted effort to make sure that the use of resource has a legal foundation without changing its stance on fair and rational utilization among the Nile Basin countries. In this context, the state Minister highlighted the construction of the Grand Ethiopian Renaissance Dam as a demonstration of Ethiopia's commitment to making the Nile Basin Cooperation Framework have legal basis. The realization of the cooperation framework will open a new chapter of collaboration by abrogating the iniquitous colonial water treaties of 1929 and 1959. The state minister noted that the framework will be an internationally endorsed legal agreement that explicitly rejects the unfair colonial agreements Ethiopia has been opposing. "This can be taken as a big victory because the unjust agreements that gives all the wealth to one or two countries and we did not sign would be null and void, giving also lesson to other countries. So others should learn from this that resource cannot be taken by power, position, or quantity of production. I assume that this will give a lesson for many that we should abide by the law,"Abrha elaborated. He further said "the aim is not to divide the water into fixed allotments but to create a fair platform where we can collectively address challenges and pursue improvements. The existing Nile Basin Initiative, lacking legal standing, will now serve as a consultative forum and a commission with binding authority." According to the Nile Basin Cooperation Framework Agreement, at least six basin countries must ratify the agreement in their respective parliaments and submit the ratified documents to the African Union before a joint commission can be formed. Consequently, if South Sudan and Burundi, which have recently approved the agreement, deposit their ratified documents with the African Union, the formation of the joint commission will be possible. For many years, only 4 countries have ratified the agreement. But as the cooperation framework agreement stipulates that the Nile Basin Commission can be established and implemented three days after the 6 signatory countries have fully completed the deposit process, it was not implemented, he explained. Ethiopia remains committed to cooperating with other nations in ensuring the fair utilization and sustainable development of shared water resources, Abrha stressed. Recall that Ethiopia was the first country to ratify the Nile Framework Agreement in 2013. Rwanda, Tanzania, Uganda, Burundi, and more recently, South Sudan, followed suit.              

Addis Ababa July 24/2024 (ENA) Ethiopia and Cuba need to implement existing bilateral agreements in areas like water management, education, air transport, and trade, Foreign Affairs State Minister Mesganu Arga said. The state minister also encouraged further cooperation in health care and sugar production during his meeting with Cuba's Deputy Foreign Minister Elio Eduardo Rodrigues Perdomo today. On the occasion, Mesganu underscored the need to implement existing bilateral agreements in areas like water management, education, air transport, and trade; and encouraged further cooperation in health care and sugar production, according to Ministry of Foreign Affairs. Cuba's Deputy Foreign Minister Perdomo expressed gratitude for Ethiopia's embassy reopening in Havana and reaffirmed his country's commitment to strengthening ties. Both sides recognized the potential for expanded cooperation and the importance of solidarity in addressing global challenges.      

Addis Ababa, July 24/2024 (ENA) Ethiopians Airlines Group’s world-class maintenance and training provider, Ethiopian MRO, and ATR, the world’s number one regional aircraft manufacturer, signed a Letter of Intent aimed at developing Ethiopian MRO services’ ATR aircraft maintenance and training capabilities. The agreement was signed at Farnborough International Air Show 2024, Farnborough, England. The cooperation would cover the development of Ethiopian MRO’s maintenance capabilities for ATR aircraft types and the establishment of a local spares’ stock to reduce response time for ATR operators in the region, according to an official press release from ATR. It would also explore collaborative ways to train new ATR pilots with the Ethiopian pilot academy. With its extensive aircraft maintenance and repair capability, an international network for seamless spare parts delivery, multiple hubs across the continent, and an aviation training university, Ethiopian MRO is a key player in the aftermarket and the ideal local partner to cater to the needs of the 36 airlines operating 131 ATR aircraft across Africa and the Middle East, the press note added. During the signing ceremony, Mesfin Tasew Ethiopian Airlines Group’s CEO said: “This partnership aligns with Ethiopian Airlines Group’s vision to become a leading aviation reference for the African continent and the Middle East. We aim to share our expertise and benefit the entire African and Middle Eastern aviation community. This collaboration reinforces Ethiopia’s positioning as a key hub, and the fact that an established OEM such as ATR approaches us to leverage our capabilities for their fleet and operators is a testament to the recognition we have earned.” On her part, Nathalie Tarnaud Laude, ATR’s Chief Executive Officer, said: “Ethiopian MRO’s significant investments over the past years to expand their facilities combined with their dedication to developing their capabilities, present a timely opportunity for ATR to provide better support to our African and Middle Eastern operators. She also expressed confidence that this cooperation will help boost regional aviation locally and unlock further potential for growth for ATR, she said, adding that “Our operators will benefit from an improved quality of service, lower maintenance costs, reduced downtimes and lower emissions through the support of an experienced partner close to their needs.”  

Addis Ababa July 24/2024 ( ENA) Chief of Urban Practices Branch at UN-Habitat, Shupra Narang Suri, emphasized the critical need for reforming international financial structures to address the growing SDG financing gap and support sustainable urban development, particularly in rapidly urbanizing regions like Sub-Saharan Africa. Shupra Narang Suri, representing the United Nations Human Settlements Program (UN-Habitat), has highlighted the urgent need for a overhaul of global financial systems to better support urban development and achieve sustainable development goals (SDGs). She stressed the importance of ensuring fairer access to financial resources for development, particularly for cities and local communities. "We know the SDG financing gap is growing," Suri stated, "and we need more cities, more countries, more stakeholders to have fairer access to financial resources for development." She said the current financial landscape poses significant challenges, especially for developing and least developed countries.   The Sub-Saharan Africa, as the fastest urbanizing subcontinent, faces particular difficulties in this regard, she pointed out. "These cities don't have access to finance. They also don't have the capacity to raise their own resources," Suri explained. To address these issues, she called for a multi-faceted approach, including restructuring debt and providing debt relief, ensuring concessional finance is available to least developed countries and sub-national governments, redirecting finances to reach developing countries and local communities more effectively and increasing support for urban projects, given that 70 percent of the world's population is expected to live in cities. Suri also highlighted the need for a combination of domestic resources, support from International Financial Institutions (IFIs), National Development Banks (NDBs), and private sector investments to achieve sustainable development. She acknowledged the complexities of these challenges, particularly in the post-COVID era where many countries have sunk deeper into debt. She emphasized the need for careful consideration of tax regime restructuring to avoid placing additional burdens on already struggling populations.  

Addis Ababa July 24/2024 ( ENA) Ethiopian Airlines took over the responsibility of managing Gorgora Eco Resort under Ethiopian Skylight Hotel in an agreement ceremony held at Ethiopian Skylight Hotel on Tuesday. The ceremony was attended by the President of the Amhara Regional State Arega Kebede, senior officials of the region, Chief Commercial Officer of Ethiopian Airlines Lemma Yadecha and other Ethiopian Airlines executives. The Ethiopian Airlines is working tirelessly to play its part in the development of Ethiopia's tourism industry.   The company recently took the responsibility of managing Halala Kela Eco Lodge, Wanchi Ija Eco Lodge and Chebera Elephant Paw Lodge. These state of the art tourism facilities were built under the ‘Dine for Ethiopia’ projects initiated by Prime Minister Abiy Ahmed with a view to unlocking the country’s tourism potential for economic development.    

Addis Ababa, July 23/2024 (ENA) The Africa Blue Economy Week 2024 set to boost inclusive and sustainable economic growth through tangible and actionable ways of advancing Africa’s blue economy was launched in Addis Ababa today. Speaking on the occasion, AU Commissioner for Agriculture, Rural Development, Blue Economy and Sustainable Environment, Josefa Sacko said the water bodies of Africa such as ocean, sea, rivers, among others, have vast potentials to advance the blue economy of the continent. They have also significant benefits for sustainable economic development, job creation, poverty alleviation and to achieve the African Union Agenda 2063. In this regard, she pointed out that the African Union has been supporting member countries in creating awareness, capacity building and strengthening regional cooperation to use marine and fresh water bodies in environmental friendly and healthy manners. However, the blue economy of the continent still is not without challenges and there is a need for collective efforts, empowering youth and community with knowledge; and innovative approaches with investing marine science and technology. For her part, UNDP Africa Regional Director Ahunna Eziakonwa stated the need for concerted efforts of stakeholders to unleash the vast potential of Africa in the blue economy to ensure economic development and prosperity of the continent.   According to her, the blue economy moves 1.5 trillion US dollars annually. Africa can use its huge blue economic potential to boost its economy, create millions of jobs and to ensure its food security, she added. UNDP will support hundred million dollars of initiatives for bio-diversity conservation marine and fresh water bodies of the continent in the effort to build resilience, inclusive and integrated blue economy of the continent. The regional director further stressed that deepening regional integration and inclusivity of women and youth in blue economy is of paramount importance to boost the sector. Norway's Deputy Minister for International Development, Bjorg Sandk Jaer said on her part that exploiting the blue economy Africa in integrated and sustainable manner is crucial for the present and future welfare and development of the continent.   Sustainable and manageable use of blue economy of Africa would provide solution for climate change, energy supply and food security, she added. Jaer stated that Norway stands ready to collaborate with African Union and it has been a consistent partner for several years through support to the development of the Africa Blue Economy Strategy and supporting African expertise to the blue economy. She underscored that Norway will continue to support to capacitate and enhance sustainable blue economy of the continent. This year's theme, “Empowering Africa's Blue Renaissance”, highlights the need for collective effort and innovation to build a dynamic blue sector. The Africa Blue Economy Week 2024 unites leaders from various sectors to foster dialogue, celebrate achievements and explore the blue economy’s role in advancing development goals such as poverty alleviation and climate resilience.        

Addis Ababa June 23/2024 (ENA) Ethiopia has shared its experience on integrated national financing framework on the sidelines of the first session of the preparatory committee for the Fourth International Conference on Financing for Development (FfD) underway in Addis Ababa. Finance State Minister Semereta Sewasew shared the major aspects of Ethiopia’s Sustainable Financing Strategy (ESFS) at the side event titled “Making Finance Work for People and Planet through Integrated National Financing Frameworks”. According to Ministry of Finance, she noted that the ESFS is developed to play a pivotal role in addressing the financial needs of SDGs and national priorities. The strategy identifies major focus areas to diversify the financial sources of the country, and aims at establishing strong and resilient funding mechanisms that will reinforce the country’s future growth and development. Semereta also highlighted priority areas of the ESFS that will be implemented to strengthen development financing, which among others include accelerating digital tax modernization to boost revenue collection efficiency and combat tax evasion, shifting from traditional public-centered and debt-focused infrastructure investments to innovative and private sector financing instruments, integrating innovative financing mechanisms and instruments into sector investment plans, accelerating use of green finance instruments and ramping up the national public-private partnerships(PPPs). She pointed out that the ESFS aims to address structural constraints by promoting resilience and aligning financing flows with long-term sustainability goals.            

Addis Ababa, July 23/2024 (ENA) The multiple measures taken by the government of Ethiopia to reduce inflation bring forth the tangible results, an economist and researcher at Policy Research Institute, Brehanu Alemu remarked. Ethiopia’s Minister of Trade and Regional Integration, Kassahun Goffe reported that the measures being taken by the government to curb the existing challenges of inflation will be intensified to further reduce it from the current level. According to scholars, over circulation of bank notes in the economy, the disparity between demand and supply and other reasons exacerbate inflation. As a result, the government of Ethiopia is taking multiple and integrated measures to reduce the level of inflation in Ethiopia. Talking to ENA, Brehanu Alemu, Economist and Researcher at Ethiopian Policy Research Institute stressed on the importance of multiple measures to reduce inflation in a more tangible manner. Increasing interest rates and encouraging the culture of savings among the population will help to siphon in money into the banks is one of the measures vital to curb inflation, the scholar noted. Selling government treasury bonds as a means of drawing out money from the economy is another alternative to reduce inflation along with increasing interest rates curb the circulation of unnecessary money, he added. The government is taking a number of alternative measures to resolve the skyrocketing of inflation with tangible results, Brehanu further noted based on some statistical evidences. The scholar explained that compared to the pervious year, this year’s inflation on food and non-food commodities have slightly been reduced from 23 percent in May to 19.9 per cent at the current period. He added that the efforts made in the ‘Bounty of the Basket’ development initiative along with other measures being taken in to enhance agricultural productivity have helped to reduce the gap between supply and demand contributing to the reduction of inflation in the food market. The ‘Bounty of the Basket’ is a development program initiated by Prime Minister Abiy Ahmed to increase the productivity of milk, poultry and meat production. The efforts made by consumer cooperatives in the country in supplying food items with more reasonable prices was also instrumental in helping to reduce inflation in the sector, the scholar further remarked. Minister of Trade and Regional Integration, Kassahun Goffe for his part stated that efforts made in the country to further increase production and productivity has made commendable contributions in reducing inflation.Dry season irrigations schemes for wheat production launched by Prime Minister Abiy Ahmed along with various development endeavors including the ‘Bounty of the Basket’ has been instrumental in bringing the desired results in reducing inflation. The minister further affirmed the commitment of the government to curb the economic challenges of inflation to a lower level. Local consumer associations have been contributing a lot to reduce the exiting inflation by supplying agricultural and industrial products to the consumers.

Addis Ababa, July 23/2024 (ENA)-A delegation from the Government of Malawi, accompanied by IOM staff, visited the Addis Ababa Bole International Airport to gain insight into how the Migration Information and Data Analysis System (MIDAS) developed by IOM operates. The purpose of the study tour was to equip Malawian officials with a comprehensive understanding of MIDAS for effective border management, according to IOM. The visit highlighted Ethiopia's successful implementation of MIDAS for visa processing and issuance, as well as the airport's proficiency in travel document examination.   Officers from Immigration Citizenship Services and IOM Ethiopia shared insights on collaboration, the MIDAS visa system, the forensic laboratory, and capacity development support. The exchange of knowledge and experiences remains crucial for enhancing Border Management capabilities and fostering effective collaboration in the field, especially when the Government of Malawi plans to collaborate with IOM for the national implementation of MIDAS in Malawi.

Addis Ababa, July 23/2024 (ENA)The African Union Commission (AUC), in collaboration with the United Nations Development Programme (UNDP) and key stakeholders, launched the Africa Blue Economy Week (ABEW-24) and the Commemoration of the Africa Day of Seas and Oceans today in Addis Ababa. The event is set to boost inclusive and sustainable blue growth across Africa. Africa’s vast coastline and abundant marine resources offer exceptional opportunities for transformative economic and social development. However, this potential has been hindered by environmental degradation, overexploitation and infrastructure deficits. The Africa Blue Economy Week and the Commemoration of the Africa Day of Seas and Oceans seeks to tackle these challenges to unlock Africa's blue potential. This year's theme, “Empowering Africa's Blue Renaissance”, highlights the need for collective effort and innovation to build a dynamic blue sector. ABEW-24 unites leaders from various sectors to foster dialogue, celebrate achievements and explore the blue economy’s role in advancing development goals such as poverty alleviation and climate resilience. The African Day of Seas and Oceans, celebrated annually on 25 July, is a feature of ABEW-24, according to UNDP. This day underscores the tremendous value of Africa's aquatic resources and the need for sustainable management to support economic growth, food security and environmental health. The celebration aligns with the Decade of African Seas and Oceans (2015–2025), highlighting efforts to protect and utilize these resources.

Addis Ababa, July 23/2024 (ENA) Ethiopia delivered its national statement on the first Session of the Preparatory Committee for the 4th International Conference on Financing for Development which is underway in Addis Ababa. Minister of Finance, Ahmed Shide articulated the Ethiopian stance and initiatives regarding the financing of the Sustainable Development Goals (SDGs). He emphasized that the path following the adoption of Agenda 2030 has been fraught with challenges for many countries, including Ethiopia, due to various global issues. In this context, the Minister underscored the importance of the upcoming 4th International Conference on Financing for Development in Spain next year. Ahmed highlighted that te conference would serve as a crucial platform for renewing global commitments to achieving the SDGs through innovative development financing strategies. Stressing Ethiopia's ongoing commitment to solidarity with other African nations and the international community, the minister highlighted the importance of fostering dialogue and partnerships to enhance the mobilization of both national and international resources. Additionally, he pointed out the need to strengthen the role of the private sector and to adopt innovative financing mechanisms, such as climate finance and blended financing, among others, to support sustainable development. Addressing the debt burden through a permanent mechanism, broadening the tax base, enhancing tax collection and administration, and improving public financial management were also highlighted as key actions where Ethiopia is focusing its efforts to make progress on the SDGs. Furthermore, international cooperation to combat illegal financial flows was also mentioned as an important action to undertake. Looking ahead, Minister Ahmed Shide emphasized that the upcoming 4th International Conference on Financing for Development will be a critical opportunity to revitalize the SDGs and mitigate the impacts of climate change. Ethiopia's commendable actions in addressing climate change and its steadfast ongoing efforts such as Green Legacy have been highlighted on the occasion. Finally, he urged the international community to take immediate and coordinated actions to tackle the challenges impeding the implementation of the SDGs.