World Bank commits record 5.7 billion USD to Africa

The World Bank Group committed a record 5.7 billion in International Development Association (IDA) resources to sub-Saharan Africa in the last fiscal year, that is one billion USD more than in the previous year, according to a press release of World Bank.
Africa, the Bank's lead development priority, is in its third year of economic growth at levels above five percent, despite persistent constraints throughout the region arising from inadequate infrastructure, low investment and limited skills, it said.
"We are now seeing increases in African countries' per capital income consistent with those of other developing countries, and African countries have made great strides in expanding access to health and education," the release quoted Obiageli Ezekwesili, Vice President for Africa as saying.
"African leaders are well aware of the support that IDA provides and this is why they are strong supporters of a robust replenishment of IDA this year," he added.
A significant factor in the Bank's increased commitment is an expanding investment in infrastructure-particularly electricity generation-badly needed to sustain healthy growth in the higher-performing economies, and to raise productivity in slow-growth countries.
IDA provides interest-free loans and grants to the world's poorest countries, of which 39 are in Africa. In fiscal year 2007, Africa accounted for nearly half of all IDA commitments. (WIC)

Horticultural associations working to double size of farms by next Ethiopian year

The Ethiopian Horticultural Producers and Exporters Association (EHPEA) and Ethio-Horti Share Company disclosed that they are striving to boost production by doubling the 850 hectares of land covered with flower next Ethiopian year.
EHPEA Chairman Tsegaye Abebe and Ethio-Horti Share Company Board Chairman, Solomon Sebhatu, jointly told WIC that they are carrying out the site selection and expansion works in a bid to supply quality produce to the international market.
The over 72 members of the association and new investors that joined the sector recently have finalized preparations to scale up the volume of the production and increase income, they indicated.
Significant achievements have been registered in the sector and the country has earned substantial income owing to conducive climate and investment policy, according to the officials.
The less than 10 hectares of land covered with flower some four years ago has now shot to 850 hectares, they further noted. The income which was below 10 million dollars would hit 120 million USD by the end of this year, according to the chairmen. (WIC)

KOICA to launch a multi village water supply project

The Korea International Cooperation Agency (KOICA) Ethiopia office is to launch a multi village water supply project in the Kilte Aullalo Woreda of Tigray Regional State at the cost of over 1.7 million US dollars.
The recent exchanged notes between the Embassy of the Republic of Korea and the Ministry of Finance and Economic Development (MoFED) disclose that the Record of Discussion (RID) signed on June 7, 2007 between the Implementation Survey Team Leader of Korea International Cooperation Agency (KOICA), and the Head of the Bureau of Water Resource, Mines and Energy of Tigray Regional State of the Federal Democratic Republic of Ethiopia to be the constituting agreement between the two governments and the agreement on the project to enter in to force as of 30 August 2007.
According to the RID, the multi village water supply project, which is expected to be completed with in the coming two years and benefit tens of thousands of people, is to strengthen the cooperative relationship in the field of water resource development between the Federal Democratic Republic of Ethiopia and the Republic of Korea.
The designated project includes, among others; the construction of .water supply system including wells, pipelines, reservoir taps etc...with the objective of ensuring adequate potable water supply and thereby improving public health conditions for the people residing in the project area. (KOICA press release)

German Government allocates 3.3 million ETB for water project in Afar Region

The Government of the Federal Republic of Germany allocates 3.3 million ETB to the international NGO German Agro Action (GAA) / Welthungerhilfe for a new water-supply and drought-preparedness-project in the Afar region. The intervention will be carried out by the Ethiopian NGO Afar Pastoralist Development Association (APDA) in the two districts Mille and Chiffra.
34,000 persons will benefit from the construction of 6 retention-dams and 10 double cisterns in eight communities. The construction will be realized within 20 months starting in September 2007. (Embassy of the Federal Republic of Germany press release)

CBE opens 195th branch in Ginchi
The Commercial Bank of Ethiopia (CBE) has opened its 195th branch in the town of Ginchi on 1st September 2007.
The opening of CBE's new branch in Ginchi would help render rapid and efficient Banking services to inhabitants and business community of the town. (CBE press release)

Ethiopian leases additional aircraft

The Ethiopian Airlines leased B-757 aircraft with a view to providing efficient services to the increasing number of passengers in connection with the Ethiopian Millennium. The total number of airplanes leased by the Airlines during the last three months has reached three.
Ethiopian has planned to transport tourists traveling to Bahir Dar, Gondar, Lalibela, Mekelle, Axum, and Dire Dawa towns.
In a statement sent to ENA, the airlines Public Relations Service said that the airlines leased two Boeing 767-300ER aircrafts each having 235-seat in June and July 2007.
Besides the Boeing 767-300ER aircraft, Ethiopian leased B-757 which has a capacity of carrying 175 passengers. (ENA)