Ethiopia’s Council of Ministers held its 44th ordinary meeting and came out swinging with a series of important decisions that touched everything from green economy funding to tariff regulations, air agreements, and even foreigners buying land — yes, that last one raised some eyebrows too.
1. Money Talks: Italy and IDA Loans Get the Green Light
The Council began with two rather generous financial assistance agreements — because who doesn’t love friends with deep pockets?
- Italy is contributing €1.5 million (yes, with a comma!) to support Ethiopia’s Green Economy and Environmental Development through a 30-year plan, which includes a cozy 6-year grace period.
- Meanwhile, the International Development Association (IDA) is offering 38.1 million SDRs (Special Drawing Rights — basically financial speak for a basket of global currencies) to transform the education sector. Repayment is over 38 years with a teensy 0.75% service fee. It’s like buying now and paying later, student-loan style — but way smarter.
The Council gave a thumbs-up and passed both to the House of People’s Representatives, declaring the loans interest-free and fully aligned with Ethiopia’s debt policy.
2. Africa Finance Corporation: Membership Has Its Privileges
Next up: Ethiopia may soon join the African Finance Corporation (AFC) — a continental body funding infrastructure, natural resources, and industry. The Council believes this is like getting a VIP pass to African development dollars and technical support.
Translation: Private developers, rejoice — more capital is (hopefully) coming your way.
3. AfCFTA Gets a Boost: Tariffs, Be Gone!
With the African Continental Free Trade Area (AfCFTA) up and running, the Council agreed it’s high time Ethiopia figures out its tariff rates. The new regulation will enable smoother trade between member states, help build value chains, and push the country toward industrialization.
4. New Service Fees: Ministry of Transport & Civil Society Authority
Hold on to your wallets — not in fear, but in preparation. Two new regulations will set service fees for the Ministry of Transport and Logistics and the Civil Society Organizations Authority.
Why? To help these institutions cover costs, boost income, and hopefully make service less bureaucratic and more customer-friendly.
Let’s just say: if you’ve ever spent half a day in line for a transport permit, these updates might just be your redemption arc.
5. Foreigners and Real Estate: A Delicate Dance
The Council also debated a draft proclamation that could let foreigners own or possess immovable property in Ethiopia — without stepping on citizens’ rights.
The goal? Encourage foreign capital, stimulate housing development, and create jobs.
So no, it doesn’t mean your cousin in Dubai can suddenly own Bole land. But it does aim to strike a fair balance that invites global investment without upsetting locals.
6. Flying High with Austria
Finally, Ethiopia’s aviation diplomacy just got an upgrade. The Council approved a draft proclamation to ratify an Air Transport Agreement with Austria.
What does this mean?
More market access for Ethiopian Airlines,
More tourists (and maybe business-class selfies),
More trade and foreign exchange opportunities.
In short: Austria + Ethiopia = new air lanes, new gains.
