Council of Ministers passes various decisions

Addis Ababa, April 28, 2020 (FBC) – In its 19th urgent session held on Saturday, April 24, the Council of Minister, has passed decisions after deliberating on various issues.

Among the issued discussed by the Council include measures that should be taken to address the threat posed by the coronavirus (COVID-19) outbreak to the country’s economy.

The Council first discussed on a resolution tabled by the Ministry of Finance to reduce the impact of the outbreak on businesses and exporters as well as to enable employers to keep their workers on the payroll.

After making a few adjustments, the Council decided the resolution to enter into force.

The Council also decided the emergency law implementation rules that require a 20% tax cut and other related  measures for taxpayers, among others, to enter into force.

It also approved the loan agreements signed with various countries and financiers.

The agreements were signed with JICA for Jimma-Chida and Sodo-Sawla road projects and Italy for the implementation of the health sector’s development goals, technical and vocational training skills improvement and job creation programs.

The Council also approved the loan agreements signed with EXIM Bank of Korea to finance the Addis Ababa Bus Rapid Transit (BRT) and land information management system as well as with Khalifa Fund for Enterprise Development (KFED) to encourage innovation and assist small and medium enterprises (SMEs).