Ethiopian Road Fund Amasses Over 2 Billion Br

Ethiopian Road Fund Amasses Over 2 Billion Br

By Sisay Sahlu

ADDIS ABEBA – Ethiopia Road Fund Office said it has collected over two billion br over the past nine-month of the current 2018/19 fiscal year. It started in July 2018.

The fund announced this in a statement sent to The Monitor on Wednesday.

The money has been secured from fuel levy on axle weight bases, annual vehicle license renewal fee, and overloading fines.

It also includes transit fees collected from vehicles transporting commodities to and from neighboring countries based on the bilateral agreement.

The office has achieved a staggering 110% of its target planned for the period.

Apart from securing funds, the office has a target to maintain over 18,600 km of roads during the current fiscal year and allocated 1.8 billion br.

The office said it has so far maintained over 12,392 kilometers of roads and spent 869,000 br in the process.

The achievement, almost 66 percent, is lower than what it initially planned for the first three-quarters of the 2018/19 FY.

The office said that the lower completion was due “to security problems occurred in various parts of the country”.

Meanwhile, the office is studying ways to improve its road inventory, maintenances modality, formulation of fund allocation, and more.

Six Ethiopian universities are involved in conducting the studies, it said.

Once these studies are completed, it said their findings will help the office to fairly distribute budgets for regions for road maintenance, among others.