Ethiopia gets $200m loan for migrants jobs scheme | Fin24
 
In partnership with
  • Another VAT hike?

    Absa warns that govt may again announce an increase in value added tax in next month's Budget.

  • SA Revenue Service

    The tax agency says a unit that tackles illicit financial flows has recovered R2.6bn since April 2019.

  • State Capture Inquiry

    Former Eskom chairperson Zola Tsotsi says Tony Gupta threatened to have him removed.

Loading...

Ethiopia gets $200m loan for migrants jobs scheme

Sep 21 2016 18:02

Addis Ababa - The European Investment Bank is set to lend Ethiopia $200m to build two industry parks that will employ 30 000 refugees in a move aimed at curbing migration to Europe, the bank said on Wednesday.

The Horn of Africa country hosts more than 743 000 refugees and asylum seekers from neighbouring countries, many of whom use its camps as way stations on a longer journey to Europe.

The bank said the 30 000 refugees will be among 100 000 people who will be employed altogether in a scheme that will cost $500m. The World Bank, Britain, and other EU nations will provide the rest of the financing.

"We know that Ethiopia is for many a stopping point before making the dangerous onward journey to final destinations in Europe," said Werner Hoyer, the EIB's president.

"Initiatives and projects like this provide people with a choice to stay closer to home and an opportunity for economic growth as well," he added in a statement.

Over 161 000 Eritrean refugees currently reside in Ethiopia, the majority of whom say they fled the prospect of unlimited service in the Eritrean military.

More than 33 000 Eritreans sought asylum in Europe last year, the European Union says.

Ethiopia accounts for five percent of the refugees and migrants to have reached European shores so far this year, according to data obtained from the United Nations refugee agency UNHCR.

Read Fin24's top stories trending on Twitter:

ethiopia  |  jobs
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...