Ministry of Finance and Economic Development disclosed that the country has secured some 25.3 billion Birr in loans and aid during the last Ethiopian fiscal year, 2001 E.C.

The country has secured the stated amount of loan and aid from multilateral as well as bilateral cooperation, public relations and information section head with the ministry, Haji Ibsa told ENA.

Haji said about 81 percent of the stated sum was secured from multilateral cooperation sources while bilateral cooperation sources contribute 19 percent of the stated loan and aid granted during the last one year.

Some 18.4 billion Birr of the stated sum was granted in the form of aid while the balance was secured in loans, according to the head.

Multilateral sources include, among others, IDA, European Union, UNDP, FAO, AU, ADB, IMF, Global Environmental Fund, and Arab Bank for Africa, he said, donor countries include, UK, USA, Sweden, Japan, South Korea, China, Ireland, France, Finland, Italy, German, and Kuwait, among others.

The amount of loan and aid obtained during the reported time surpassed the amount of loan and aid secured during the preceding year of the same period by 61 percent.

Meanwhile, he said, more than 180.5 million Birr debt of the nation was cancelled during the reported period since Ethiopia is one of the poorest countries worldwide benefiting from debt cancillation program.

ENA