Addis Ababa, 13 September 2014 (WIC) – The Board of Directors of the African Development Bank Group (AfDB) held its first regular meeting since the Bank returned to its statutory headquarters in Abidjan on 8 September and approved a combined $256 million for the financing of investments in Nigeria and Ethiopia as well as a multinational projects preparation facility.

A $150 million senior loan will go to Lekki Port LFTZ Enterprise for the construction of a Greenfield seaport in the Lagos Free Trade Zone, about 60 kilometres east of Lagos.

Upon completion the port is expected to handle 16.7 million tonnes of liquid cargo and 4.5 million tonnes of dry bulk. Construction is expected to begin in January 2015, with container terminal operations expected in December 2018.

The project, estimated at $1.675 billion, will be financed through a 54/46 debt to equity ratio
AfDB said in a statement that it is aligned with the Bank’s Nigeria Country Strategy Paper 2012-2016 which stresses infrastructure development in the non-oil and transport sector.

The Bank will also contribute a $5 million equity investment to the establishment of Kukuza Project Development Company (KPDC), a new firm that would focus on early-stage design and preparation of African infrastructure projects.

The company, which will be responsible for contract and financial arrangements as well as investor marketing, expects to process between two and four new infrastructure projects a year.

KPDC’s initial capitalisation is expected to be $25 million with the five equity shareholders – AfDB, India-based Infrastructure Leasing & Financial Services Limited (IF&LS), Abu Dhabi-based Allied Investment Partners, State Bank of India and India Exim Bank – holding a stake of 20 per cent, 20.5 per cent, 20.5 per cent, 19.5 per cent and 19.5 per cent, respectively.

The AfDB Board also approved a $91.1 million loan for Ethiopia’s One Water, Sanitation and Hygiene National Program (OWNP) to provide sustainable water supply and sanitation facilities throughout Ethiopia. Ultimately, the OWNP is estimated to cost $2.4 billion.

Other institutions funding the project include the UK Department for International Development, UNICEF, the World Bank and the Government of Ethiopia. (cpifinancial)

Addis Ababa, 12 September 2014 (WIC) – An Ecuadorian investor said he has begun introducing state-of-the-art technology to the Ethiopian floriculture sector which is suitable to the European flower market.

Owner and General Manager of the Ecuador-based cut flower group Bellaflor, Mauricio Castillo, said that besides its proximity to the European market, the lower transportation cost for flowers has made Ethiopia a preferred market.

Castillo said the Bellaflor group, which has gained international recognition, has 32 years experience in producing cut flowers.

Although the company supplies 75 percent of its produces to the US, it has also many customers in Europe and Asia, according to the general manager.

The investor, who came to Ethiopia last year to engage in floricultural sector, was granted 73 hectares of land in Welmera Woreda of Oromia Regional State.

Half of the total land would be used for developing cut flower, Castillo said, adding that the project launched in May will create jobs to 1,000 citizens when it goes fully operational.

The investor further said he would allocate 18 million USD in the coming three to four years to develop 32 types of roses and summer flower.

In terms of providing social services for the localities, Castillo said the company has built 3.2 kilometers long gravel road at a cost of 50,000 USD and would build a health center that particularly cares for the new born to 6 year old children.

Ethiopian Horticulture Development Agency Director-General, Alem Weldegerima, on his part said two Ecuadorian investors have invested in floriculture development in this current year alone.

Besides, investors from Middle East, Far East and South America have entered the Ethiopian market this year to engage in horticulture and floriculture, he added. (ENA)

Addis Ababa, 6 September 2014 (WIC) – The relations between Ethiopia and the European Union (EU) have been showing significant growth as their friendship is based on mutual benefits and is strategic, Ethiopia’s Ambassador Extraordinary and Plenipotentiary to EU said.

The envoy, Ambassador Teshome Toga, said that Ethio-EU relationship is based on mutual benefits and on strategic principles.

Ambassador Teshome, who pointed out the close working relationship Ethiopia has developed with the EU Commission and the EU Parliament, said the country has been receiving huge support from the union for its development activities.

He also said the trade relationship is strong and 40 percent of Ethiopia’s export goes to EU member countries while foreign direct investment flowing from the union to Ethiopia has also been increasing.

Ethiopia is benefiting from the development aid extended to 79 African, Caribbean and Pacific countries, the envoy said, adding that the union would give additional 200 million Euros to Ethiopia for human rights and related issues through its development fund.

The support of the union to Ethiopia is strong and comprehensive as the EU appreciates the role Ethiopia has been playing in bringing about sustainable peace and stability to Africa in general and to East Africa in particular, Ambassador Teshome elaborated.

The peacekeeping role of Ethiopia in Somalia and South Sudan has for instance been winning support in various ways, he added.

According to the envoy, the European Union has allotted 745 million Euros that would be used for agriculture, food security, infrastructure building, education and healthcare from 2014 to 2020.

Out of the 28 EU member countries 20 have embassies in Addis Ababa. (ENA

Addis Ababa, 8 September 2014 (WIC) – Ethiopia and Germany yesterday signed 123.8 million eruro development cooperation aimed at supporting the implementation of projects in three main focal areas–agriculture, education and biodiversity in the coming three years (2014- 2017).

Signing the agreement, Ministry of Finance and Economic Development (MoFED) State Minister Ahmed Shide said that Ethiopia enjoys good relations with German which supported it realize the MDGs. He also acknowledged the commitment of German in working with Ethiopia in development issues.

He also reaffirmed that German continues cooperating with the Ethiopian. (EH)

Ethiopian Ambassador to the Benelux and Baltic States and the EU institutions, Mr Teshome Toga presented his letter of credence as the Permanent Representative of Ethiopia to the Organization for the Prohibition of Chemical Weapons (OPCW). The ceremony took place on September 2, 2014, at the Headquarters of OPCW in the Hague, Netherlands. During the meeting, Ambassador Teshome Toga reaffirmed Ethiopia’s readiness to work together with the organization and cooperate with it in areas such as chemical industries’ security and safety, as well as technology transfer.
The Director General of the OPCW, H.E. Mr Ahmet Üzümcü, on his part talked about the OPCW and how the organization is striving to attain a chemical weapons free world. He pointed out that the OPCW is the second largest international organization by membership after the UN. During the discussion, he noted that in the last 17 years the Chemical Industry has shifted from European countries to the developing countries, mainly in Asia, because it has become increasingly necessary to develop the capacity of developing countries to prevent their vulnerabilities to associated threats such as terrorism and environmental disaster. He also pointed that this includes supporting state parties to enact national legislations in line with the Chemicals Weapons Convention (CWC).
In this regard, he recalled that Ethiopia has been benefiting from the capacity development program of OPCW and would benefit of such training for more experts in the future. Moreover, the Director General expressed his readiness to provide internship programs for Ethiopian experts in the view of developing their technical skills in the chemical industry. He also indicated that he would like to see Ethiopia play an active role in the OPCW activities. With this, the Director General extended an invitation to Ambassador Teshome Toga to the Commemoration of the victims of the first use of Chemical Weapons during the First World War, which will be held on April 21, 2015 in the Hague.
Ambassador Teshome Toga, the Permanent Representative of Ethiopia to OPCW, on his part thanked the Director General for the capacity development activities and the trust OPCW endowed to Ethiopia and assured the Director General that OPCW is one of the organizations Ethiopia will continue to work together with, in respecting the Chemicals Weapons Convention (CWC). Ambassador Teshome indicated that OPCW could be able to maximize its effectiveness in reaching the African region by working closely with Pan African Parliament and other Sub regional legislative bodies. He further stated his country’s readiness to play an active role in the OPCW via the membership of the OPCW Executive Council and expressed the willingness of Ethiopia mission to assume one of the next Executive Council seats representing the African region.
The Organisation for the Prohibition of Chemical Weapons (OPCW) is an independent, autonomous international organisation with a working relationship with the United Nations. Its Goal is preventing chemistry from ever again being used for warfare, thereby strengthening international security. The OPCW is the implementing body of the Chemical Weapons Convention (CWC), which entered into force in 1997. As of today OPCW has 190 Member States, who are working together to achieve a world free of chemical weapons.

Have you ever wondered what natural attractions Africa holds outside of the usual safari circuit? Well, wonder no more, as below you can find out all about the natural wonders of Ethiopia.

Spot Gelada monkeys in the Simien National Park

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Next week, several Pacific and Caribbean countries will sign their national indicative programs to receive European Union development funds for the period 2014-2020.

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xperiments performed by scientists from UK and Japan suggest that coffee and naps taken together maximize the brain’s alertness much better than when taken alone.

Scientists at Loughborough University in Britain found out that tired test takers who drank a cup of coffee and immediately took a 15-minute nap had fewer errors in a driving simulator than those who only drank coffee or only took a nap.

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he Culture and Tourism ministry says it will pursue a number of tourism development strategies with the aim of pushing Ethiopia’s tourism sector forward.

Ethiopia works tooth and nail to perk up its tourism sector, fully exploit its tourism potentialities and raise the contribution of the tourism industry in its national income.

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