Agreement Signed to Increase the Productivity and Competitiveness of the Livestock Sector
Aiming to provide technical assistance to increase the productivity and competitiveness of the Livestock Sector in Ethiopia, a Grant agreement amounting to USD 325, 000 (equivalent to 8,8 Million birr) signed between the Government of Ethiopia and Africa Capacity Building Foundation at a ceremony held at the Ministry of Finance and Economic Cooperation (MoFEC).
The major outcomes of the project is strengthening capacity of targeted Farmers Training Centers and improving the market system through enhancing the market oriented skills of extension workers in relevant livestock domain.
It is also stated during the occasion that, Ethiopian livestock sector is endowed with abundant resources and spurred by population growth while the domestic demand for meat and dairy is continuing to grow. The meat and dairy markets presents huge opportunities for business and increasing the availability of animal sourced product which can address food security in Ethiopia.
However, key challenges continue to undermine the performance and potential of the livestock sector resulting in low production and productivity level mainly due to limited institutional capacity primarily at woreda and community level and lack of trained extension personnel.
H.E Ato Admasu Nebebe, State Minister of MoFEC and Professor Emmanuel Nnadozie, Executive Secretary, Africa Capacity Building Foundation signed the agreements on behalf of the Ethiopian Government and the Africa Capacity Building Foundation respectively.
Ethiopia Signs Financing Agreements with the World Bank
March 20, 2018, the Federal Democratic Republic of Ethiopia signed three Financing Agreements amounting to USD 600 Million (approximately 16.5 billion ETB) in the form of loan and grant with the World Bank at a ceremony held at the Ministry of Finance and Economic Cooperation (MoFEC).
The proceeds from the Financing Agreements amounting to USD 127 million in the form of regular credit, USD 273 million for grant and USD 200 million Scale-up Facility Credit will be used for the implementation of the Ethiopia Urban Institutional and Infrastructure Development Program. This financing will enable to enhance the institutional performance of participating urban local governments to develop and sustain urban infrastructure, services, and local economic development.
H.E. Dr. Abraham Tekeste, Minister, Ministry of Finance and Economic Cooperation and Ms. Carolyn Turk, World Bank Country Director for Ethiopia Sudan and South Sudan, signed the agreements on behalf of the Ethiopian Government and the World Bank respectively.