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Ethiopia\u2019s Council of Ministers has approved $324.3 million in international financing and authorized the establishment of a dedicated Artificial Intelligence University during its 53rd regular Cabinet meeting.<\/p>\n
The new university, established under Proclamation No. 1294\/2015, will operate as an autonomous institution focused on training researchers and specialists in artificial intelligence. The Cabinet approved the institution\u2019s regulations and authorized its immediate operationalization.<\/p>\n
The Cabinet also endorsed three international loan agreements. A $60.2 million loan from the Korea Export-Import Bank will fund the national electricity expansion project, with a 40-year repayment schedule and a 0.1% service fee. An 80 million euro ($87 million) loan from the French Development Agency will support renewable energy and digitalization initiatives, repayable over 20 years at a 0.5% service fee. A $184.1 million loan from the Global Development Fund will support urban safety and public works programs, with a 30-year repayment schedule and a 1.25% service fee. The Council confirmed that all three loans comply with Ethiopia\u2019s debt management regulations.<\/p>\n
The Cabinet also approved regulations requiring private investors to participate in priority economic sectors, including large-scale projects, as a condition for sectoral development. Additional decisions included updates to warehouse management regulations, approval of licensing agreements for gold and iron production, and revisions to the country\u2019s tourism development policy first introduced in 2001.<\/p>\n<\/p><\/div>\n
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