Council of Ministers Approves Draft Proclamations, Agreement

Addis Ababa, July 4, 2025 (ENA) -- The Council of Ministers deliberated today on two draft proclamations and a bilateral agreement, which it referred to the House of People's Representatives for endorsement.

The Council first addressed two draft proclamations aimed at ratifying financial and loan agreements between the Government of Ethiopia and the International Development Association (IDA).

The agreements include SDR 258,100,000 for the second Sustainable and Inclusive Growth Development Policy and SDR 27,300,000 for Expressway Development Support Project.

 

Both loans are interest-free with a 0.75 percent service charge and long-term repayment periods, including six-year grace period.

The Council confirmed that these loan agreements align with Ethiopia's debt management strategy and unanimously approved them, subsequently forwarding them to the House of People's Representatives for endorsement.

Next, the Council discussed a draft proclamation to amend the existing Federal Income Tax Proclamation.

The amendment is deemed necessary due to numerous gaps identified in the previous proclamation, particularly in light of current national and global economic conditions, according to a press release of the Council.

The revised proclamation aims to reform the tax system to align with fundamental tax principles. After thorough deliberation, the Council unanimously approved the amendment and sent it to the House of People's Representatives for further consideration.

 

Finally, the Council reviewed a bilateral agreement signed with the Federal Republic of Nigeria to waive visa requirements for holders of diplomatic and service passports.

The agreement is expected to significantly facilitate official travel for high-ranking government officials, diplomats, and citizens of both countries by eliminating the need for visa prerequisites and reducing processing times.

Furthermore, it is anticipated to strengthen bilateral relations between Ethiopia and Nigeria.

Following discussions, the Council unanimously approved the agreement, forwarding it to the House of People's Representatives for endorsement.