Remittance from Ethiopians Living Abroad Reaches $3.8 Billion

ADDIS ABABA – Ethiopia has secured 3.8 billion US dollars remittance in the first nine months of budget year, its Diaspora agency announced on Thursday.

The Ethiopian Diaspora Agency’s nine-month report shows the nation is on track to achieve its annual target set at 4 billion US dollars.

With the help of various initiatives to encourage the use of legal channels and follow up, the agency says Ethiopians in diaspora have sent 3.8 billion US dollars in the last nine months.

Apart from remittance, the agency says support was given to 1, 489 members of the Ethiopian diaspora interested in investing in the country with a registered capital of 97.6 billion Birr.

Nearly 6,000 Ethiopians living abroad have also deposited $5.05 million in foreign currency accounts.

The Agency also said it has raised over 1.37 billion Birr support in kind and cash from members of the diaspora during the nine month period.

The support includes over 122m Birr for the construction of the GERD through donations and bond purchase, 109.8m Birr to the law enforcement operation, and 32m Birr for humanitarian assistance.

Additional 777.35m Birr in cash and 336.26m Birr in kind have also been raised in support of rehabilitation efforts of various infrastructures affected by the conflict, according to the agency.

Overall, the agency says the activities and the achievements registers over the course of the past nine months are commendable and encouraging, says the agency that reviewed its nine-months performance on Thursday.

As part of the public diplomacy efforts, the agency said it has held 876 virtual meetings to bolster the contributions of the diaspora to activities in Ethiopia and launched over 200 social media campaigns with direct involvement of the diaspora community.