SNNP State launches dev't works with over 2.1 billion birr

SNNP State said it has been executing development works with over 2.1 billion birr budget allocated this fiscal year to enhance poverty reduction programs that involve the public.
State Finance and Economic Development Bureau Head, Bargude Bancha, told Abyotawi Democracy newspaper that the state government has been exerting relentless efforts to alleviate poverty.
Accordingly, projects in education, agriculture, potable water, roads, micro and small-scale businesses, health and other infrastructural works are under execution this budget year, he said.
The budget earmarked for the budget year exceeded that of last year by 730 million birr, the head said, adding that priority was given to projects which backup the speedy economic development launched by the government during budget allocation. (WIC)

Japan Emabassy signs grant agreement

The Embassy of Japan has signed a 474,515 USD grant agreement with six Non-Governmental Organizations for the Grant Assistance for Grassroots and Human Security Projects on Thursday, 15 November, 2007 at the Embassy of Japan, Sunshine Building, Bole Road.
The organizations participating in the signing ceremony are: Selam Environmental Development Association (SEDA) (USD 84,736); Agency for the Assistance of Refugees, Displaced and Returnees (USD 57,075); Beminet Lewegen Medires Be Ethiopia (USD 85,800); Hope for the Horn (USD 85,092); Messengers of Love (USD 84,016); Tesfa Tsion Dirjit (USD 77, 796).
The Ambassador of Japan to Ethiopia, Mr. Kinicho Komano, in his speech at the ceremony said that the projects would help in realizing the community based human security of the beneficiaries. He hoped that the projects would result in improving and empowering the people. (Press Release)

Abinet buys 18 per cent of East Africa Bottling

Abinet B.Meskel, a businessman and legal representative of business tycoon Sheik Mohammed Al-Amoudi, bought 18 per cent of the total share of East Africa Bottling S.C.
The businessman bought over 66 thousand shares worth over thirty-two million birr. Each share of the East Africa Bottling S.C. is worth 133 birr.
East Africa Bottling S.C. is known for its beverage brands: Coca Cola, Fanta and Sprite. It also produces carbonated water under the brand name Crystal. (The Reporter)

Addis among best cities to invest in by Chinese

The city of Addis Ababa is chosen one among "Best Cities to be Invested by Chinese Enterprizes", the Ministry of Foreign Affairs said.
Citing the Ethiopian Embassy in Beijing, the Ministry told ENA that the city won the entitlement given by China International Institute of Multinational Corporations.
Addis Ababa Caretaker Administration Major Berhane Deresse led a delegation to Beijing to receive the award to be given on November 17-18 at an "International CEO Roundtable for Chinese and Foreign Multinational Corporation".
The Ministry said the number of Chinese enterprizes investing in Ethiopia has been growing as of late owing to the favorable investment conditions in Ethiopia and enabling framework provided under the Sino-Africa Cooperation Forum, which encourages Chinese investors to look to Africa.
Meanwhile, Mayor Berhane on Friday held talks with Beijing deputy major on ways of enhancing the cooperation of the two sister cities. (ENA)

Hundreds of ONLF terrorists killed, wounded in Warder Zone

Hundreds of Ogaden National Liberation Front (ONLF) terrorists have reportedly been killed and wounded in the mop up operation underway since October 17,2007 in Warder Zone of Somali State.
Commander of Division 12 of the South East Command, Colonel Gebregziabher Beyene, told WIC yesterday that close to 100 terrorists that regrouped at a locality called Lander from Fik, Deghabour, Kebridenar and other areas were killed during the operation.
The army, assisted by local militias and security forces, finally annihilated the enemy that fled to Shilabo from Warder, according to Colonel Gebregziabher.
Home-made explosive devices readied by the terrorists to attack public transportation were unearthed and cleared, Colonel Gebregziabher further disclosed.
Some seven of the terrorists killed in Warder were leaders of ONLF, he said, adding that hundreds of the terrorists who have given themselves up are being rehabilitated.
The terrorist group has been wrecking havoc in the surrounding with the logistical, training and leadership support of the Eritrean government, the commander noted, adding that two of the terrorists captured in the fight at Warder were soldiers of Shaebiya. (WIC)

EDB allots 257 mil Birr loan to investors in floriculture sector

The Ethiopian Development Bank (EDB) said that investors engaged in floriculture sector have become very successful compared to other clients of the bank engaged in export trade.
The bank has made available over 257 million Birr loan to investors engaged in floriculture sector during 2007/2008 fiscal year.
Public relations service head with the bank, Darege Berkessa told ENA on Friday that the bank has attached due attention to the development the export trade sector.
The floriculture sector has been one of the sectors working with the bank, he said, adding the bank is working with 44 investors engaged in the sector.
The investors secured over 603 million Birr loan from the bank during the last three years out of which more than 119 million Birr of the stated loan has already been reimbursed, he said. (ENA)