In the past five years, Ethiopians and foreign nationals of Ethiopian descent have sent an average of USD 4.5 billion back to Ethiopia annually. During a recent government evaluation session, Fitsum Assefa, Minister of Planning and Development, reported that remittances reached USD 4.2 billion in the most recent fiscal year alone. "The remittance from the diaspora has been on a steady rise," stated Belayneh Aknaw, Deputy Director General of the Ethiopian Diaspora Service. Over 1,745 members have opened domestic bank accounts, depositing over USD 2.2 million in the past eight months. Additionally, the diaspora has also invested Birr 17 billion in development projects, creating over 1,000 jobs.

Source: Ethiopian News June 13, 2024 01:28 UTC