Eritrean can access their assets, invest in Ethiopia – Council of Ministers
Council of Ministers discusses passes decisions on 4 bills, endorses a new regulation
Addis Ababa, May 15, 2009 (Addis Ababa) – The Council of Ministers during its 85th regular meeting on Friday discussed and passed decisions on four draft proclamations and one regulation.
According to a statement the office of the Prime Minister sent to ENA, the council discussed on and referred to the House of Peoples’ Representatives the draft proclamation on expansion and control of precious stone market and prevention of illegal marketing.
According to the statement, the council looked into the draft bill providing for an amendment in the proclamation delimiting the powers and duties of executive organs.
This bill, which concerns the powers and duties of the Ministry of Federal Affairs was deemed necessary to provide a legal framework for government to work in collaboration with concerned bodies towards the maintenance of harmonious living and diffusion of any possible tension between and among followers of religions in line with the constitution that stipulates freedom
It refered the bill to the House of Peoples’ Representatives for endorsement.
The council decided on the enforcement of a regulation providing for access for Eritreans to their assets in Ethiopia and privilege to make use of and invest their money in Ethiopia.
Furthermore, the council refered to the House of Peoples’ Representatives a bill providing for an investment promotion and protection agreement signed with the government of Spain, and another bill providing for approval of a 540 million USD loan and grant signed with the International Development Association (IDA).
The statement said of the total IDA financing, 309.22 million USD (57 percent) is in grant where as 230.22 USD (43 per cent) is in loan.
Source – ENA