Archive for the ‘News’ Category

Chinese bank to fund Addis Ababa’s Light Railway Network
By Yohannes Anberbir

The Export and Import (EXIM) Bank of China reached an agreement with the Ethiopian Railway Corporation (ERC) to finance its Light Railway Network project in Addis Ababa, a high government official who requested anonymity told Capital. Read the rest of this entry »

APA-Addis Ababa (Ethiopia) Ethiopia has obtained around $780 million from remittances from Ethiopians in the Diaspora in the past ten months, the Ethiopian National Bank said here on Tuesday.

According to the bank, this year’s earnings from remittances exceed that of last year by about nine per cent.

An estimated one million Ethiopians are estimated to live outside their country, mostly in the United States and Europe.

The bank said that the amount of remittances Ethiopia is getting each year is on the rise, especially since the past three years.

“We have enforced a new legislation allowing the Diaspora to have saving accounts in US Dollars, which is encouraging many citizens to do so,” said the bank.

However, according to available information, Ethiopia is getting lower remittances than other neighbouring countries, such as Kenya and Egypt.

In 2007, Kenyans in the Diaspora had sent home nearly 1.6 billion dollars, achieving a per capita remittance of 42 dollars.

Ethiopians on the other hand sent home only 359 million dollars, with a per capita remittance of only four dollars, according to a United Nations report for 2009.

However, 1.2 billion to 1.5 billion dollars was remitted to Ethiopia through the non-banking system.

Ethiopia is expecting the remittances to rise to around one billion in the next few years.

Ethiopian and the US Export-Import Bank Sign $1.6 Billion Agreement – 10 August, 2010
Ethiopian Airlines and the Export-Import Bank (Ex-Im Bank) of the United States have signed an agreement worth over $1.6 billion to support the financing of five B777-200LR and ten B787-8 aircraft and General Electric spare engines.

At a ceremony held at the 9th African Growth and Opportunity Act (AGOA) Forum in Washington DC on August 02, 2010, the financing documents were signed by Ethiopian Airlines CEO Girma Wake and Ex-Im Bank Chairman and President Fred P. Hochberg. The magnitude of the transaction represents the first of its kind for the support of the African aviation industry. Read the rest of this entry »

By William Davison - Jul 30, 2010

Bloomberg: A coalition of Ethiopian opposition parties will take steps toward becoming a single party by forming a front, said Negasso Gidada, co-deputy chairman of the so-called Medrek alliance. Read the rest of this entry »

By Associated Press

4:01 AM CDT, July 29, 2010

WICHITA, Kan. (AP) — Kansas farmers are studying an Ethiopian cereal grain known as teff as a possible alternative crop for the state.

The Solomon Valley Resource Conservation and Development Area and the Kansas Black Farmers Association are hosting a teff field day Aug. 5 south of Woodston. Speakers will present information about teff and answer questions. Lunch will include teff products to sample.

The black farmers group has been researching the idea under a government grant. Project acres have grown from 50 the first year to nearly 250 the third year.

They want to expand teff in Kansas from test plots to market-sized plots of the grain.
Read the rest of this entry »

U.S. Ambassador and Mrs. Booth meet with Amhara Regional Sate President Ayalew Gobeze.

Addis Ababa, July 29, 2010:  U.S. Ambassador to Ethiopia, Donald E. Booth, and his wife Anita Booth, traveled to Bahir Dar from July 28-29 to meet with regional and local officials, visit U.S. assistance

projects and programs, meet with American citizens and learn about economic development issues in the Amhara area.  He was accompanied by the Director of the U.S. Centers for Disease Control (CDC) in Ethiopia, Dr. Thomas Kenyon, and other U.S. Embassy staff.

During his first visit to the Amhara region, Ambassador Booth paid calls on Regional State President Ayalew Gobeze and the Bahir Dar City Mayor Alemayehu Sewagegne.  He also had the Read the rest of this entry »

Four Ethiopians To Participate in President Obama’s Forum with Young African Leaders

Addis Ababa, July 23, 2010 – U.S. Ambassador to Ethiopia Donald E. Booth met on July 23, 2010 with four Ethiopians who have been selected to participate in President Obama’s African Youth Leaders Forum from August3-5 in Washington D.C.

The Forum will bring together approximately 120 young leaders from civilsociety and the private sector representing more than forty countries insub-Saharan Africa to meet with American counterparts and U.S.government officials and share insights on key themes of youth empowerment, good governance, and economic opportunity.  President Obamawill host a town hall meeting at the White House with these young leaders to discuss their vision for transforming their societies overthe next fifty years. Read the rest of this entry »

The United Nations inaugurated Nelson Mandela International Day, which will be celebrated each year on the former South African president’s birthday, July 18th.The day calls for people around the world to take action to make a difference in their communities.