Ethiopian diaspora remittances reaching US$3.3 billion in nine months of current fiscal year

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remittances
Remittances

Ethiopian diaspora remittances reached 3.3 billion U.S. dollars in the first nine months of the current Ethiopian Fiscal Year 2021/2022, which started on July 8, an Ethiopian official said Monday.

The Public Relations Director of Ethiopia Diaspora Agency (EDA) Wondwossen Girma said the Ethiopian government has been conducting surveillance and assistance to make sure the Ethiopian diaspora sends remittances through legal financial channels, reported the state media outlet Ethiopia Press Agency (EPA).

Girma said various types of assistance have been given to 1,489 members of the Ethiopian diaspora who have registered 97 Ethiopian billion birr (about 1.86 billion U.S. dollars) investment capital.

“EDA has also managed to mobilize Ethiopian diaspora members to open six thousand foreign currency accounts worth more than 5 million U.S. dollars in total,” Girma said.

Ethiopia Diaspora Agency is a government entity that aims to boost the diaspora’s role by creating a community that is Ethiopia’s pride and partner in development. EDA has in recent years facilitated the Ethiopian diaspora’s role domestically and externally, through lobbying activities of foreign governments, investment in Ethiopia’s economy as well as social activities inside Ethiopia.

There are more than 3 million people of Ethiopian origin globally mainly residing in Southern Africa, Middle Eastern, European and North American countries. The Ethiopian diaspora remittances in the 2020/2021 fiscal year stood at 3.6 Billion U.S. dollars. Enditem

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