Geeska Afrika Online

Flow of Financial Assistance to Ethiopia Increasing

ADDIS ABABA (HAN) November 25, 2015 – Public Diplomacy and Regional Stability Initiatives News. Better and proper utilization of assistance helping the government of Ethiopia earn more financial support from donors.

The financial assistance the nation earned from multilateral donors during the first quarter of this fiscal year has increased by 96.6 percent compared to the previous year same period, the Ministry of Finance and Economic Cooperation said.

PR head at the Ministry, Haji Ibsa said the better performance of Ethiopia in utilizing budget allocated for projects helped for increasing flow of financial assistance from bilateral and multilateral donors.

The East African nation has secured 418.7 million Dollars in the form of credit and grant during the specific period. The amount of money pledged by multilateral and bilateral donors for the period was 621 million USD,

Of the total amount secured, some 415.38 million USD was from multilateral, while 66.3 million USD was obtained from bilateral sources.

Multilateral and bilateral donors have been praising Ethiopia for its proper utilization of assistance.

Source: ethiopiannewsagency


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