News Column

House Approves a Bill

June 12, 2014

Zerihun Getachew

The Ethiopian House of Peoples' Representatives on its formal meeting Thursday has approved Financial Report Preparation and Presentation Bill into law.

It is indicated that the law enables the nation to have internationally accepted standards on financial statements and auditing.

The law also helps in tackling money laundering and crimes on revenue collection.

The House also approved the loan agreement of 250 million USD between Ethiopian government and International Development Association.

The money will be used in developing the potable water, and improving sanitation and hygiene in the country.

The loan is with no interest and to be paid in the long range.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters