Addis Ababa: The Council of Ministers, in its 41st regular session, has deliberated on significant economic issues and approved several crucial decisions.
According to Ethiopian News Agency, the session involved discussions on draft bills to ratify two loan agreements with the International Development Association (IDA). The agreements, amounting to 53.3 million SDR and 525.7 million SDR, aim to support the modernization of government services and strengthen the financial sector. The loans are interest-free, featuring a minimal service charge of 0.75%, a six-year grace period, and a 38-year repayment term. The Council confirmed that these loan terms align with Ethiopia’s debt policy and forwarded the draft proclamations to the House of Peoples’ Representatives for further approval.
Additionally, the Council addressed the need to amend the Investment Incentives Regulation No. 517/2022. Despite its existing framework, issues in implementation necessitated revisions to clarify its provisions. After considering valuable feedback, the Council unanimously approved the amendments, which will become effective upon publication in the Federal Negarit Gazette.
Furthermore, the Council discussed a draft regulation regarding the dissolution of the Public Enterprises and Administration. The proposal involves transferring its rights and responsibilities to the Liability and Asset Management Corporation. After incorporating feedback, the Council approved the regulation, which will take effect upon its publication in the Negarit Gazette.