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[Aug 2017] Ethiopian Ministry of Finance and Economic Development (MoFED) Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Parliament Approves Five Loan Agreements which Total 16.3b Br

Parliament approved five loan agreements, with a total value of 16.3 billion Br on July 7, 2015, made between the Ministry of Finance & Economic Development (MoFED) and different developmental partners to finance various projects.

Three of the approved loan agreements are for road projects whereas the two are for agriculture and water supply projects.

The largest loan of 408 million dollars is for the construction of two roads. One of the roads is a 60Km road extending from Shambu, in the Wellega, west of Lake Fincha,

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MoFED launches new financial management system

A new Integrated Financial Management Information System (IFMIS) is being tested in six federal ministries and two regional states with a view of transforming the government financial system, the Integrated Budget and Expenditure System (IBEX).
Ministry of Finance and Economic Development (MoFED)with Oracle Corporation and Transnational Computer Technology (TCT) is currently implementing the system that uses a customized Oracle E-Business Suite (EBS).
The new system is said to create financial transparency and accountability as

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Ethiopia Eases towards COMESA Free Trade Area

The Ethiopian government is finalising instruments and expediting internal consultations for the accession of the Common Market for Eastern & Southern Africa (COMESA) Free Trade Area (FTA).

Industry areas in which the country is going to join the free trade area have been identified by the Ministry of Finance and Economic Development (MoFED) at the end of 2014. MoFED’s study conducted at the end of 2014 recommended a phase by phase approach to accede into the COMESA FTA and accordingly, categorised three trade areas based on

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