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Ethiopia records more remittances from diaspora

ETHIOPIAN diaspora remittances reached $4.2bn during the Ethiopian 2021/2022 fiscal year that ended on July 7, said authorities.

Mohammed Idris, the deputy director of the Ethiopian Diaspora Agency, said Friday that the remittances recorded during the past fiscal year exceeded the target set for the period by $200 million.

The Ethiopian diaspora remitted $3.6bn in the 2020/2021 fiscal year.

Idris said his agency was also able to attract investments from 1,800 members of the Ethiopian diaspora during the 2021/2022 fiscal year, reported state media outlet Ethiopia News Agency (ENA).

The deputy director also said members of the Ethiopian diaspora contributed $28 million worth of assistance to rehabilitate parts of the country hit by both manmade and natural calamities during the just concluded fiscal year.

Ethiopia Diaspora Agency is a government entity that aims to boost the diaspora’s role by creating a community that is Ethiopia’s pride and partner in development.

There are about 3 million plus people of Ethiopian origin globally, mainly residing in Southern Africa and Middle Eastern, European and North American countries.

 

Source
Xinhua

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