Addis Ababa June 22/2024 (ENA) Ethiopia has bolstered domestic resource mobilization through tax reforms, and improved administration resulting in a 24.8 percent average increase in revenue over the past three years, according to Minister of Finance. The First preparatory meeting for the 4th International Conference on Financing for Development is underway in Addis Ababa.   Following the opening session today, a ministerial panel discussion was conducted. At the panel discussion, Minister of Finance Ahmed Shide highlighted Ethiopia’s efforts in domestic resource mobilization, reform tax policy and administration, enhance public expenditure and crowd-in private sector participation in public investment projects, among other related issues. Nine years ago, the global community convened in Addis Ababa to adopt the Addis Ababa Action Agenda evolved framework designed to mobilize financial resources for the implementation of sustainable development goals (SDGs). Ahmed said Ethiopia has made significant strides implementing our action agenda in advancing towards sustainable development goals. "We have notably enhanced financial inclusion, expanding access to financial services across our population.” “It's quite notable advancement in several areas. Our journey has been hardwares. The full potential of Addis Ababa Action Agenda remains largely untapped,” he stated. According to the Minister, since 2015, the number of banks and branches has grown substantially underpinned by a regulatory framework supporting digital financial services, which are spurred innovation and competition. Mobile banking users have soared from 4.9 million in 2019 to 27.9 million in 2023, he said, adding despite these gains, challenges persist particularly in rural areas without underdeveloped financial infrastructure. The minister said Ethiopia has bolstered domestic resource mobilization through tax forms, and improved administration resulting in a 24.8 percent average increase in revenue over the past three years. Despite this positive achievement, he acknowledged challenges such as tax avoidance and a large informal sector continue to affect revenue mobilization and collection contributing to persistently low tax to GDP ratio. The nation has designed a Homegrown Economic Reform Agenda which incorporates macro-economic reform, structural reform and the sectoral reform as major policy issues. The reform includes pivotal changes in tax policy, as well as improvement in the efficiency of public investment to reverse the declining tax to GDP ratio and utilize the country's potential tax capacity up to 20 percent of the GDP, the minister elaborated. According to Ahmed, Ethiopia has continued to increasingly invest on pro-poor sectors and social protection programs such as health, education and water. As a result of this investment access to primary health care services and enrollment in primary school has increased significantly. However, the challenge of debt servicing and the fluctuations in ODA has undermined the sustainability of spending on pro-poor sectors, he said, adding the share of ODA declined by one percent of GDP in 2023, from 3.2 percent in 2020. Therefore, he stressed that addressing this financial pressure is critical. This includes supporting the government in enhancing debt sustainability, and scaling up development financing. Moreover, Ahmed added that Ethiopia has continued its commitment to building a carbon neutral and climate resilient economy. During the past couple of years, the country has restored millions of hectares of degraded landscapes, including through the green legacy program. “We have managed to increase our national forest cover to 23.6 percent in 2024, from 14.7 percent in 2014.” Despite our achievements, developing countries like Ethiopia continue to face significant financing gaps, exacerbated by recent global crises such as COVID-19 pandemic, geopolitical conflicts, and economic instability. The Addis Ababa Action Agenda has underscored the need for a comprehensive and inclusive approach to financing development to address these challenges, and accelerate the implementation of SDGs on a coordinated actions. “We must advocate for comprehensive reform of the international financial architecture including improving global economic governance, enhancing debt relief measures, and reducing the cost of sovereign borrowing.” Mobilizing private investment and strengthening multilateral development banks are also critical steps, he noted. Ahmed reiterated that innovative financing mechanisms such as debt for climate swaps, carbon trading green bonds should be promoted and leveraging technology for sustainable development.    

Addis Ababa June 22/2024 (ENA) Industrial Parks Development Corporation’s Industrial Projects Service (IPS) has finalized a feasibility study for Mesebo Cement Factory to help it regain its past production capacity. IPS General Manager, Shiferaw Solomon formally handed over the document to Tekeste Tadesse, representative of Mesebo cement factory. During the handover, Shiferaw stated that IPS's extensive experience in large-scale projects is supporting huge institutions to uplift their success and make new ones successful. He also expressed his confidence that the study will revitalize the Mesebo Cement Factory and restore its former prominence. Tekeste Tadese, the factory representative, for his part said the feasibility study will be highly supportive in helping the factory regain its past production capacity. Industrial Projects Service (IPS) has a proven track record of conducting feasibility studies for large companies in the country, having previously completed studies for Kesem, Tana Beles, and Fincha Sugar Factories and others.      

Addis Ababa June 22/2024 (ENA) Ethiopian Foreign Minister Taye Atske Selassie said debt relief initiative should be scaled up both at multilateral and bilateral frameworks to solve unsustainable debt burden as well as unlock investment to SDGs. The opening session of the Preparatory Committee for the Fourth International Conference on Financing for Development (FfD4), which will be running until 26th July 2024, kicked off today in Addis Ababa. In his keynote address to the event, Foreign Minister Taye revealed that the conference provides an opportunity for global reflection on the 2030 Agenda by advocating for the full implementation of this action agenda. “As we commence the preparation for the Fourth International Conference on Financing for Development in Spain next year, it is incumbent upon us to identify the gaps in the implementation of the Addis Ababa Action Agenda,” Taye noted. The minister particularly, suggested major points to meet the 2030 agenda. Accordingly, Taye said we must recognize that there are sufficient financial resources globally to meet the 2030 agenda. “What is lacking is political will and commitment to deliver the necessary funds. The international community should thus galvanize the collective will to channel and deliver this much needed fund.” Moreover, he suggested the global financial architecture must be reformed to be more inclusive and equitable. “Developed countries should advocate for and support reforms in international financial institutions to ensure that their funds better address the needs of developing countries.” The foreign minister also stressed the need for revamping efforts to combat illicit financial flows and we should also support endeavors to enhance international cooperation. Developed nations in particular, should contribute their fair share to climate finance and other development projects. "Developed countries should enhance their contribution to climate finance, including by operationalizing the loss and damage funding mechanism. This financial resource should be directed towards building resilient infrastructure, enhancing social protective systems and supporting agriculture and energy generation projects to address both immediate and long term government goals.” Taye also emphasized on the debt relief initiative that should be scaled up both at multilateral and bilateral frameworks to solve unsustainable debt burden and unlock investment to SDG related projects. In this regard, “we expect concrete commitment from lending countries,” the FM underscored. According to him, Ethiopia allocates a significant amount of finance from its annual budget to SDGs. “Consistent with our pursuit of maximizing domestic resource mobilization, we're implementing national flagship projects in social protection, tourism, digital technologies, and urban development sectors,” he stated. FM Taye also indicated that Ethiopia is also implementing the Green Legacy Initiative pioneered by Prime Minister Abiy Ahmed in which close to 40 billion seedlings are planted to curb the effects of climate change, promote food security, and create jobs. Such national development initiatives should be supported by enabling international financial frameworks while Ethiopia stands ready to share its experience, he revealed. The minister also called for global financial institutions and developed countries should provide concrete support to Ethiopia’s national efforts. Addressing the Addis Ababa Action Agenda, adopted at the Third International Conference on Financing for Development (FfD3) conference in 2015, Taye emphasized on the importance of identifing the implementation gaps. He hoped this conference lends opportunities to review achievements and gaps to revitalize our commitment and find innovative ways to implement the agenda.

Addis Ababa June 22/2024 (ENA) Ethiopia’s Finance Minister Ahmed Shide emphasized the need for reinforcing transformative financial frameworks to the Sustainable Development Goals (SDGs) and undertaking comprehensive reform in the global financing system. The minister also called on all stakeholders to undertake comprehensive reform of the global financing system. A five-day opening session of the Preparatory Committee for the Fourth International Conference on Financing for Development (FfD4), which aimed at accelerating progress towards achieving SDGs kicked off today in Addis Ababa. In his opening remarks, Finance Minister Ahmed shide underscored on promoting innovative financing mechanisms such as Public Private Partnership to mobilize finance for successful realization of SDGs. “We are here today from every corner of the globe, which played a diverse but indispensable role in critical review of our achievement in jobs and devising sustainable ways to finance our development,” he noted.Noting that financing for Development is not merely a financial endeavor, the Finance Minister said it is a commitment to justice, equity, and well being of all humanity. He added Ethiopia has remained committed to the effective implementation of SDGs and his country has been striving to overcome challenges and forge a bright future for its people. “We embark on an ambitious journey of economic transformation, aiming to lift millions out of poverty, enhance infrastructure, improve education, and ensure health care for all,” he stated. He further mentioned a practical move Ethiopia has taken to realize SDGs.“In response to agenda 2030 and our commitment to combat climate change, Ethiopia has made substantial achievements in restoring millions of hectares of degraded landscapes through initiatives such as the Green Legacy initiative. This is the champion initiative by the Prime Minister, which is soliciting millions of Ethiopians every year to participate in these collective actions.” Ethiopia has managed to increase its national forest cover to 23.6 percent from 14.7 percent in 2014, Ahmed pointed out. Despite the achievements, developing countries like Ethiopia continue to face significant financing gaps, which affects hard won progress and it has exacerbated by recent global crises such as the COVID-19 pandemic, geopolitical conflict, and economic instability, he indicated. He also shared his concern about this high debt burden, adding that countries are allocating more resources to debt services rather than investing in basic social services. Therefore: “Our discussions in the coming days should serve as a reflection on past effort but should also lay out bold actions to ensure the realization of sustainable development goals. We should critically examine the challenges and implement coordinated actions to accelerate the implementation of sustainable development goals.” In response to these challenges, the Finance Minister called for the Financing for Development Agenda to adapt and evolve. “We must advocate for comprehensive reform of the international financial architecture, including improving global economic governance, enhancing debt relief measures and reducing cost of sovereign borrowing. We must explore and implement innovative financing solutions to mobilize resources effectively, including public private partnerships. Mobilizing private investment and strengthening multilateral development banks are also important steps. Innovative climate financing mechanisms such as debt for climate swaps, carbon trading and green bonds should be promoted.” Speaking on the adoption of Addis Ababa action agenda during the third Financing for Development Conference in 2025, Ahmed revealed that the agenda lays the foundation for a new era of global cooperation and ambition in financing development. The Addis Ababa action agenda also underscores the need for a comprehensive, holistic and transformative approach to achieve the 2030 Agenda for Sustainable Development, he recalled. However, the minister stressed the need for addressing gaps in implementing the Addis Ababa Action Agenda. “Let us reaffirm our commitment to the principles of Addis Ababa action agenda and collaborate to a world where Sustainable Development leaves no one behind,” he finally stated.

Addis Ababa June 22/2024 (ENA)The Fourth International Conference on Financing for Sustainable Development (FfD4) commenced today in Addis Ababa at the Skylight Hotel. On the opening session, United Nations Secretary-General Antonio Guterres in his virtual message emphasized the importance of such platforms to mobilize finance and other resources for SDGs and expressed his wish for fruitful deliberations.   Foreign Minister Taye Atske Selassie in his opening remark, highlighted the need for an ambitious approach to address today’s financial challenges to achieve Sustainable Development Goals. He further noted that the conference provides an opportunity to reflect on the progress of the Addis Ababa Action Agenda and the financial needs of developing countries .   Ahmed Shide, Minister of Finance of Ethiopia, and Amina Mohammed, Deputy Secretary-General of the United Nations, also addressed the gathering. The speakers called for enhanced debt relief, effective coordination of partnerships, and urged attendees to share their experiences towards equitable and sustainable financing   In her keynote address to the conference, UN Deputy Secretary-General Amina J. Mohammed said only 17 percent of Sustainable Development Goals (SDGs) targets are on track. The deputy secretary-general said hosting this conference in Addis Ababa would have a profound significance, a city whose name has become synonymous with Financing for Development, following agreement of the 2015 actual agenda. The Addis agenda alongside the Sustainable Development Goals and the Paris Agreement, also agreed in 2015 provided humanity with a three dimensional roadmap towards a more justice, equitable and a sustainable world. "Only 17 percent of the SDG targets own trade. For commitments to eradicate extreme poverty and hunger are in peril since development has not effectively stalled." She elaborated that climate Action falls woefully short and the surge in renewable energies bypasses most developing countries, which face high costs of capital. The conference is being attended by about 1000 participants, according to the Ministry of Foreign Affairs.      

Addis Ababa June 22/2024 (ENA)The United Nations (UN) Secretary-General António Guterres called on world leaders to move forward with a determination to rescue the 2030 Agenda. The preparatory committee for the 4th international conference on the financing for development (FfD4) has kicked off in Addis Ababa. The five-day conference is expected to review progress and gaps in implementing the Addis Ababa Action Agenda and identify actions in order to accelerate reaching the Sustainable Development Goals. In his video recorded message to the gathering, UN Secretary-General António Guterres said “yet despite progress, we must face facts, many commitments remain unfulfilled," he stressed. Meanwhile, the world is facing seismic shocks that make financing challenges are there to solve, he said, adding on the other hand, geopolitical divisions undermine collective action. Faced with sky high debt burdens and cost of capital, developing countries have limited prospects of financing the Sustainable Development Goals, he explained.   Thus, the 4th International Conference on Financing for Development provides a unique opportunity to tackle these challenges, according to the secretary-general. It opens the door for more leaders to adopt ambitious reforms to deliver affordable long term financing at scale and deliver the SDG stimulus. It presents a unique opportunity to reform an international financial system that is outdated, dysfunctional, and unfair from the debt architecture, the system of public development banks to trade and investment rules to the financial safety net and global governance, Guterres elaborated. He added “your process as a unique mandate to look at all these pieces of the puzzle in a holistic manner and through the prism of the 2030 agenda, will need the best ideas to inform discussions and maximum political will to act." The secretary-general further urged that “I count on all of you to move forward with the determination to rescue the 2030 agenda. And together we can deliver not only a financial system, but a world that is more just equitable and sustainable."  

Addis Ababa June 21/2024 (ENA) Oromia region President Shimelis Abdisa announced a focus on maximizing rainy-season farming and expanding dry-season irrigated wheat cultivation to bolster agricultural production and contribute to export initiatives this Ethiopian Fiscal Year year. Shimelis has also mentioned about the successful efforts carried out during the concluded fiscal year to ensure peace in the region through a coordinated law enforcement activities and commendable achievements in its development endeavors aimed at realizing the multifaceted benefits of the people, Chefe Oromia (Oromia Council) commenced its 7th regular meeting today in Adama city.   Oromia region President Shimelis Abdisa on the occasion presented the regional government’s last year performance report and plan for this Ethiopian Fiscal Year. The president outlined plans to cultivate 12.4 million hectares of Meher farmland during the rainy and dry seasons, aiming to produce over 379 million quintals of crops. Additionally, a target of 163 million quintals is set for dry season irrigation wheat on 4 million hectares of land for this year, he added. To achieve these goals, Shimelis pointed out, the regional government plans to provide farmers with 16.8 million quintals of fertilizer, 1.8 million quintals of improved seeds, and 3.7 million liters of herbicides and pesticides. More focus will be given to the production of coffee and animal resources to support national export efforts, the president underscored. According to him, this includes distributing 2.5 million improved bull breeds to farmers and pastoralists to bolster animal resources output. The plan also includes distributing 1.5 million modern beehives and 198 million pullet and day-old chicks to modernize the poultry practices. Stating the plan to attract investors with a combined capital exceeding 200 billion Birr, aiming to create job opportunities for 1.7 million citizens, Shimelis emphasized that the regional government aims for broad participation from farmers, herders, enterprises, and cooperatives in the sector. The president in his report indicated that the regional government has planned to create permanent job opportunities for 2.7 million citizens during this year. The regional administration has registered commendable achievements in its development endeavors aimed at realizing the multifaceted benefits of the people, he stated. Shimelis has also mentioned about the successful efforts carried out during the concluded fiscal year to ensure peace in the region through a coordinated law enforcement activities. He particularly stressed the strong law enforcement measures taken by the regional and federal governments in collaboration with the people to ensure sustainable peace. Reiterating that the administration remains open to peace, Shimelis invited anyone involved in destructive actions to resort this appeal for peace. Discussions are underway on the performance of last year and the plan for this year.  

Addis Ababa, July 20/2024(ENA)-Ethiopia could successfully capitalize on BRICS membership to drive economic growth and development, CEO of Center of Excellence International Consult, Gedion Jalata said. For months now, Ethiopia has officially become the newest member of the BRICS group of nations, comprising Brazil, Russia, India, China, and South Africa among other new members. Gedion told ENA that this historic achievement is set to unlock a myriad of advantages for Ethiopia particularly, in facilitating its import and export activities without the constant reliance on some foreign currency, a longstanding challenge for the country. One of the primary advantages of BRICS membership is the establishment of the New Development Bank, the idea of using local currencies for trade with the group of countries in this bloc. This could help Ethiopia in terms of diversifying currencies for its export and also import trade endeavors, Gedion explained. The CEO further stated that it is beneficial for Ethiopia as it could give the ability to conduct trade and transactions, Gedion said, adding that will greatly ease the financial constraints the country has faced for years. For him, the move opens up new avenues for growth and collaboration. ‘‘… BRICS is opening the New Development Bank, which means it is coming up with a new currency. So this could help Ethiopia in terms of its export and also import.’’ Gedion highlighted that Ethiopia's membership in BRICS is a testament to its growing global influence and importance. Being accepted as a BRICS member is a remarkable achievement that underscores Ethiopia's standing as a key player in global economics and diplomacy, the CEO revealed. He added this will also strengthen Ethiopia's negotiating power and allow it to forge closer ties with other emerging economies, to the benefit of its people. Furthermore, Gedion emphasized the opportunity for Ethiopia to learn from the development experiences of other BRICS members, particularly China. “China managed to lift over 700 million people out of poverty in less than 30 years. This can be, I think, a good lesson for African countries,” he said. ‘‘I think, so many benefits as members of the BRICS country. As you know, collaboration between these countries is enhancing trade, as well as investment and development assistance. Coming from BRICS countries to BRICS countries will be a priority than other countries.” Gedion also highlighted the significance of the partnership between Ethiopia and China, noting that it has been growing ever stronger. Sharing his view on infrastructure development, Gedion believes that Ethiopia can greatly benefit from the expertise of BRICS countries. “We can learn a lot from China, as well as soft infrastructure like education, health, and other sectors of the economy,” he stated. As Ethiopia embarks on this new chapter as a BRICS member, the country is poised to reap significant rewards that will strengthen its economy, enhance its global influence, and improve the lives of its citizens. Moreover, Ethiopia’s membership in this emerging bloc is being considered as a historic development that marks a crucial step in the East African nation's journey towards sustainable development and prosperity.              

Addis Ababa, July 20/2024 (ENA) Industrial Parks Development Corporation (IPDC) stated that it has obtained more than 2.1 billion Birr in revenue during the just ended 2023/24 Ethiopian fiscal year. The revenue was earned from the rental of production sheds, service land offered to investors, from the apartments used for housing and the rental of buildings and various investor-oriented ways of earning income. It was also revealed that, profit of more than 282 million birr was earned from the income collected in the previous fiscal year, according to the corporation. The industrial parks, Dire Dawa Free Trade Zone, the service of industrial projects as well as various ways of generating additional income have contributed at every level to make the corporation's income and profit performance effective. The corporation is currently evaluating the performance of the 2016 fiscal year in Hawassa City, it was indicated.

Addis Ababa, July 20/2024(ENA)- A two-day Ethio-Italy Investment and Business Forum that focused on deepening investment and business partnerships between Ethiopia and Italy was conducted in Milan city.   The Investment and Business Forum was organized by the Ethiopian Embassy in Italy which held in Milan, Italy from 18th to 19th July 2024. During the Forum, Deputy Commissioner Dagato Kumbe featured the vast investment potential and various investment opportunities that Ethiopia offers to Italian investors.   He also presented the improved investment policy and climate of the country, the investment incentives as well as trade and other new sectors recently opened for foreign investors in detail. On the sideline of the Forum, B2B engagement between Ethiopian and Italian investors was also conducted, according to the Ethiopian Investment Commission.   The Deputy Commissioner along with other delegate members conducted a site visit to Italian companies, and he invited Italian investors to make a per-investment visit to Ethiopia and explore more about the investment potential of the country.

Addis Ababa, July 20/2024(ENA)- Industrial Parks Development Corporation (IPDC) disclosed that it attracted more than 500 million dollars in capital investments during the previous Ethiopian fiscal year. Similarly, the corporation revealed that more than 237 million USD worth of import substitute products were supplied to the domestic market in the last fiscal year. The Corporation which is currently evaluating the performance of the 2023/24 fiscal year in Hawassa City, stated that local and international investors were allowed to invest in the stated period. According to its social media page, IPDC added that both local and international investors were made to enter contractual agreements with the corporation. Additionally International and local investment promotion activities, coordination activities carried out with the stakeholders as well as the country's economic reforms have a positive role for the effectiveness of the investment attraction. International and local companies that have signed contracts with the corporation in the last fiscal year are in the process of pre-operation, machine installation, staff training and some have completed the pre-operational work and started the production process.   On the occasion, the corporation also revealed that more than 237 million USD of import substituting products were offered to the domestic market during the past fiscal year. And since the establishment of the corporation, it has been possible to produce import substituting products worth more than 606 million US dollars. In the stated fiscal year, among the import substituting products produced by the industrial parks, it was pointed out that barley malt for breweries and construction materials took the highest share. On the other hand, it was also mentioned in the performance review that in the last fiscal year, market linkages were created by providing inputs worth more than 124 million US dollars to manufacturers in industrial parks.      

Addis Ababa,July 20/2024(ENA)- The Federal Ethics and Anti-Corruption Commission announced that the asset recovery bill will enhance its capacity to effectively combat corruption. Individuals and groups engage in various criminal activities, including corruption, to amass wealth, it stated, adding that these financially motivated crimes encompass corruption, human trafficking, arms trafficking, drug trafficking, counterfeiting, illegal remittances, tax evasion, and smuggling. While these criminal activities yield substantial profits for perpetrators, they inflict severe damage on the country's social, political, and economic progress. In an exclusive interview with ENA, Gezahegne Gashaw, Lead Executive Officer of Emergency Corruption Prevention at the Federal Ethics and Anti-Corruption Commission, noted that the previous legal framework for recovering illicit assets overlooked the public sector beyond government employees. He emphasized that the commission has been actively engaged in identifying, freezing, seizing, managing, and ultimately confiscating assets derived from criminal activities. However, the absence of a comprehensive and independent law for recovering corruptly obtained wealth has hindered anti-corruption efforts, he added. Gezahegn noted that Ethiopia is a signatory to both the Anti-Corruption Convention and the African Anti-Corruption Convention and the central focus of these conventions is the recovery of stolen assets. He asserted that the enactment and implementation of the asset recovery bill addresses previous legal shortcomings and facilitates compliance with these conventions; and further explained that the draft bill applies to all citizens, excluding government employees, in cases involving unexplained wealth. “Individuals who accumulate or possess wealth illicitly will face legal consequences. Such assets are considered public property subject to seizure. Previous anti-corruption laws primarily targeted government officials with unexplained wealth. However, the new bill expands this scope to all citizens acquiring assets through illegal means,” he added. He also noted that the draft decree is expected to deter corruption by incentivizing citizens to maintain transparent financial records. Gezahegn highlighted Rwanda as a successful model in recovering stolen assets and strengthening anti-corruption efforts. Citing Rwanda, he emphasized that “asset recovery involves not only reclaiming stolen funds but also confiscating existing illicit wealth. This demonstrates that corruption is not a profitable venture. Such comprehensive approaches significantly enhance anti-corruption initiatives”. Justice Minister Gideon Timotios explained that the current legal framework is inadequate for effectively holding individuals or groups accountable for various crimes, including corruption. He highlighted the absence of a legal mechanism to question the source of wealth for non-government officials. The asset recovery bill aims to address this legal loophole.  

Addis Ababa, July 19/2024 (ENA) The promising economic growth of Ethiopia witnessed in the first phase of the Homegrown Economic Reform must be supported by organizations such as the Ethiopian Economics Association and the Policy Studies Institute, Director-General of the Policy Studies Institute (PSI) Professor Beyene Petros said. The 21st international conference on the Ethiopian economy is taking place in Addis Ababa with the objective of highlighting innovative solutions and promoting collaboration to unlock potential and tackle challenges. Opening the two-day Conference today, Professor Beyene said that Ethiopia has been pursuing a Homegrown Economic Reform, which is now in a second phase, to propel the country’s economic progress. According to him, the Homegrown Economic Reform is on the right track. Furthermore, the government had launched the 10-year development plan which is expected to serve Ethiopia as a pathway to prosperity in the coming decades, he added. “Developing good strategic plan is not an end by itself; and I believe that such a plan may not be of much use unless we jointly translate them into action,” the professor stressed. In this respect, the economic growth the country has been registering is promising and must be supported by organizations such as the Ethiopian Economics Association (EEA), and also the Policy Studies Institute, in exploring the huge potential and opportunities of the country to sustain and speed up growth. Given the challenges that the country is facing in the sector, there is no doubt that research based evidence is required to design effective solutions, the director-general noted. “All of us have a role to play. The role of professional associations and think tanks like the EEA and PSI is crucial.”   Ethiopian Economics Association CEO Professor Mengistu Ketema said conducting researches is not an end by itself as the outcome of the researches has to be tabled for discussions and be accessible for stakeholders. To create opportunities for further discussions, the association organizes an annual international conference that discuss various relevant topics, he stated. The conference will create opportunity to generate ideas that will be instrumental for policymakers, including the government and other stakeholders. The conference, organized by the Ethiopian Economics Association in collaboration with partners, is mainly aimed at facilitating economic discussions, highlighting innovative solutions, disseminating research findings, and promoting collaboration and networking.

Addis Ababa, July 19/2024 (ENA) Activities that addressed the basic development questions of the people have been carried out successfully by identifying the plentiful blessed resources in Sidama region during the reform years, Sidama Region Chief Administrator Desta Ledamo said. Talking to ENA, the chief administrator said the region has registered encouraging results in various sectors, including in political, economic and social sectors. Noting the fact that the inhabitants of the region have been raising development questions for many years, he added that the region has been working actively with a new perspective to respond to public concern during the reform.   According to him, the administration started work by holding discussion with the people and identifying the basic questions and properly knowing the resources in the region. Based on this, the administration designed a strategic plan which enabled it carry out several works over the past years. Following this, the leadership in the region responded to the demands of the people by involving them in various development works that have been carried out with success, the chief administrator stated. Moreover, due attention has been given to the agricultural sector to become productive by using the limited land resources in the region.   For instance, irrigation schemes were built, efforts exerted to modernize agriculture using technology, and inputs provided three times in a year. As a result, the production and productivity of coffee, grain, and fruits has increased in the region, Desta said. Avocado has also been supplied to agricultural processing industries in the region by creating market linkage between farmers and industries. Concrete results that improved animal resources in the region were also carried out, it was learned. The chief administrator further pointed out that access and quality of social services have improved in the region during the reform.   Renovation of existing schools and construction of new schools were carried out on a large scale, and special attention has been given to pre-school. The chief administrator added that efforts have been intensified in the education sector in order to achieve the national goal of creating competent and competitive generation. New hospitals and health posts have been built in the region to make services accessible in the health sector. At the same time, the renovation and expansion of existing health facilities have been carried out on a large scale, Desta stated. Finally, he stated that the encouraging works in tourism and investment will continue.

Addis Ababa July 19/2024(ENA) Ethiopia has launched today a National Circular Economy Roadmap to unleash the country’s full potential of the circular economy through creating an enabling environment. The circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible. Circular Economy Roadmaps are a strategic tool for promoting comprehensive change in developing countries towards a circular economy through concrete and practical solutions tailored to the countries’ unique context that allow them to transition from a linear to a circular economic model. They contain a vision as well as goals and tangible action points that support them in adopting and implementing circular economy solutions. The Environmental Authority of Ethiopia has today launched Ethiopia's Circular Economy Roadmap in collaboration with African Development Bank, Embassy of Finland, Africa Circular Economy Facility and African Circular Economy Alliance in Addis Ababa. The kickoff of the project in Ethiopia aligns the country with Benin, Cameroon, Chad, and Uganda in adopting Circular Economy principles to address developmental challenges. National Circular Economy Roadmap (NCER) project will be financed by the African Development Bank and Embassy of Finland in Ethiopia with technical support by African Circular Economy Alliance (ACEA). The project in Ethiopia is expected to expedite the efficient use of resources, strengthen policy, legal and institutional frameworks, and enhance capacity in the public and private sectors. Furthermore, the National Circular Economy Roadmap seeks to address significant socio-economic and environmental challenges that Ethiopia faces including unemployment, rapid urbanization, and inefficient waste management, it was underscored. Speaking at the occasion, African Development Bank representative and Principal Country Program Officer, John Bosco Bukenya said NCER project in Ethiopia is the Circular Economy in Africa that represents a billion-dollar opportunity and is part of the solution to climate change. Stressing the need to establish an enabling environment to unleash the potential of circular economy, he added that it is the reason why African Development Bank works with the National Circular Economy Roadmaps. The Roadmap will be in line with Ethiopia's 10-Year Development Plan, which advocates for inclusive and sustainable growth through agro-industrialization, improved connectivity, and competitiveness, he pointed out. Finland Ambassador to Ethiopia, Sinikka Antila said that NCER project Ethiopia will conserve resources, reduce pollution, create green jobs and stimulate economic growth in the country. Furthermore, the project will support the country's goal of a 68.8 percent reduction in emissions by 2030, she noted. Deputy Director General of the Environmental Protection Authority, Negus Lemma lauded African Development Bank and Embassy of Finland in Ethiopia for financing NCER project Ethiopia. He also expressed his gratitude for African Circular Economy Alliance for its technical support of the project. "The Circular Economy is not an option, it is mandatory for Ethiopia. This is an economic model that will help the country to adopt a more sustainable path and it is our responsibility to work together to make it happen in our country", he stated. The Key sectors for intervention of the Ethiopian National Circular Economy Roadmap include construction, manufacturing, agriculture, and waste management.          

Addis Ababa, July 19/2024 (ENA) The recent South Sudan’s ratification of the Nile Basin Cooperative Framework Agreement (CFA) is "a big achievement for the Nile Basin,” Water expert Fekahmed Negash said. The Nile Basin Cooperative Framework Agreement (CFA) outlines rights and obligations for the development of the Nile Basin water resources, promotes the equitable and reasonable utilization of the River. But at least six countries should ratify the framework to establish the Nile Basin Commission and bring it into full force. South Sudan has become the latest country to ratify the CFA, following Ethiopia, Rwanda, Tanzania, Uganda, and Burundi. Speaking to ENA, Fekahmed said this latest ratification is a very big achievement that provides the Basin in countries to have legal basis for the utilization of water they are going to make in the future. “This is a very big achievement for the Nile Basin. It is a very big achievement for Ethiopia. It was incumbent upon all of us to nurture and to work hard to realize this agreement for the benefit of the people in the basin.” According to him, the ratification will also create favorable environment for countries to come together and cooperate around the conservation, protection as well as development of the water resources in the basin. Comparing the two agreements on the Nile, the expert said the first is a colonial relic while CFA as a negotiated agreement by all of basin countries. It follows all international norms and procedures, actually included all principles, as well as accepted international laws, he added. Fekahmed noted that the CFA will have a higher level of acceptance at the international level that provides a very good basis, particularly for the signatories to utilize water resources in an equitable and reasonable manner in the future. “Everybody and all of us should be aware of the fact that the existing agreement is a colonial relic. They denied the existence of upstream countries, particularly Ethiopia, as a sovereign nation.” The functioning and operationalization of CFA can therefore contribute to actually the demise of the colonial relic, he noted, stressing that it is very important that the Nile Basin countries work very hard to make sure that the agreement comes into force. “Once the agreement came into force, the Nile Basin Initiative will be acceded to by the Nile Basin Commission, which will inherit all mandates, capacities and assets of the Nile Basin Initiative.” Speaking on the role of Ethiopia, the expert said that the role of Ethiopia at a technical, ministerial, political, and even at the highest decision-making levels to ensure that all countries ratified the CFA was very high. Ethiopia was not only the first country which signed and ratified the agreement but also encouraged and supported upstream countries, including some countries like South Sudan diplomatically, technically to ratify the CFA, he recalled. Now, it is also incumbent upon Ethiopia to leave the remaining steps to realize the establishment of the commission and its implementation of the agreement, Fekahmed said. Moreover, it is important to encourage the remaining countries to sign and ratify the agreement.

Addis Ababa, July 19/2024 (ENA) The 21st international conference on the Ethiopian Economy is taking place in Addis Ababa with the objective of highlighting innovative solutions and promoting collaboration to unlock potential and tackle challenges. The two-day conference, organized by the Ethiopian Economic Association in collaboration with partners, is mainly aimed at facilitating economic discussions, highlight innovative solutions, disseminate research findings and promote collaboration and networking. According to the association, the participants of the high-level conference will engage in discussions on current economic trends, challenges and opportunities in Ethiopia, sharing research findings and policy recommendations. The conference will showcase innovative approaches, to economic, social and environmental issues, encouraging creative strategies to address challenges. Accordingly, regrading disseminating research findings, the conference targeted to effectively share research findings with stakeholders including policymakers, practitioners and the public to maximize impact. On promoting collaboration and networking, it aims to foster connections among academics, researches, policymakers, and industry professionals to promote idea exchange and drive economic development in Ethiopia. Government officials, researchers, academics, EEA members, and partners, among others are attending the conference.

Addis Ababa ,July 19/2024(ENA)-The Ministry of Foreign Affairs disclosed that preparations are underway to host a preparatory conference for the Fourth International Conference on Financing for Development (FfD) in Addis Ababa next week. Spokesperson of the ministry, Ambassador Nebiyu Tedla said the outcome of the conference in Addis Ababa will serve as a millstone for the Fourth International Conference that will be held in Spain in 2025. Recalled Ethiopia hosted the 3rd FFD in 2015, and the Conference endorsed the Addis Ababa Action Agenda (AAAA) as the most ambitious global financial framework to mobilize resources for the implementation of Sustainable Development Goals and means for the implementation of the 2030 Agenda. The Preparatory Conference, that will be held in Addis Ababa from July 22–26, 2024 is expected to bring together approximately 1,000 ministerial and government officials, as well as senior experts from all member states, the UN, and other stakeholders. Participants will discuss the progress and challenges encountered in implementing the AAAA, as well as identify actions and ideas needed to accelerate the mobilization of development finance for the implementation of the SDGs, the spokesperson said. Ethiopia was chosen to host the preparatory session of the 4th FfD because of its diplomatic efforts and commitment to implementing the SDGs. Hosting the conference also gives Ethiopia the opportunity to boost the tourism and hospitality sectors, arrange flights for conference attendees on Ethiopian Airlines, and further enhance the country's image, Foreign Affairs Ministry said in a statement. The Fourth International Conference on Financing for Development (FfD) will take place from June 30 to 3 July 2025 in Spain. The conference will address new and emerging issues, and the urgent need to fully implement the 2030 Agenda to support reform of the international financial architecture, according to information obtained from the UN.

Addis Ababa, July 18/2024 (ENA) Ethiopia, Kenya, South Sudan and Uganda have signed today a cross border Memorandum of Understanding (MOU) to jointly mitigate animal diseases in the region. The MoU signed in Addis Ababa helps to undertake joint disease surveillance and synchronized vaccination to enhance TADs control and livestock trade. As a preventive measure, disease surveillance helps to reduce animal health-related risks and major consequences of disease outbreaks on food production and livelihoods. The four countries agreed on a draft Animal disease information sharing protocol, which was validated in October 2023. The signing of this protocol is an important milestone for timely information sharing with regard to state of TADs across the borders. IGAD commends the financial support of Africa Development Bank (AfDB), through BREFON project, for this action. IGAD Center for Pastoral Areas and Livestock Development (ICPALD) facilitated the signing of cross border MOU among the countries. According to a media brief issued by IGAD, the region is home to over 532 million heads of livestock including poultry presenting a huge potential for wealth creation and economic progress. Large proportion of livestock is produced by pastoral and agro-pastoral system in Arid and semi-arid lands (ASALs) where mobility is part of the production system. Seasonal livestock movement involved crossing international borders whereby Transboundary animal diseases (TADs) easily spread from one country to another. Moreover, control or management of TADs require cooperation between two or more countries sharing border to mitigate the diseases’ threat to the economic, trade and/or food security of the affected countries. Hence, harmonized approach for cross-border area TADs management is important to mitigate further spread and economic losses. Cross-border area animal disease information collection and sharing with neighboring countries is essential to support effective and timely decision-making to prevent spread of disease.    

Addis Ababa, July 18/2024(ENA) Some 3.8 billion USD was earned from export this Ethiopian Fiscal Year, according to Ministry of Trade and Regional Integration. Performance evaluation of the 2016 Ethiopian Fiscal Year and the plan of this year of the ministry is underway in Jigjiga, Somali region. Speaking on the occasion, Trade and Regional Integration Minister Kasahun Gofe said the revenue has shown 4.57 percent increment when compared to same period of last year.   Out of the earned income, agriculture takes the lead by 76.43 percent, followed by manufacturing, mining, electric power and other sectors. The minster pointed out the need for integration to improve competitiveness of exporters and to succeed in international trade.