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HomeEthiopian NewsEthiopian Diaspora Trust Fund ready to start collecting funds from Ethiopians abroad

Ethiopian Diaspora Trust Fund ready to start collecting funds from Ethiopians abroad

Ethiopian Diaspora Trust Fund, Ethiopian prime minister’s initiative, is now ready to collect funds from Ethiopian Diaspora to support development efforts in Ethiopia.

Ethiopian Diaspora Trust Fund

borkena
July 18,2018

Weeks after Ethiopia’s popular prime minister Abiy Ahmed announced an intention to engage Ethiopians in the diaspora by way of mobilizing financial support to help develop Ethiopia, Bank account for Ethiopian Diaspora Trust Fund is disclosed today.

Fitsum Agega, Chief of Staff in the office of the prime minister, updated Ethiopians when about the Trust fund on his twitter page.

The account is opened at Commercial Bank of Ethiopia and the account number is disclosed as 1000255726725 – according to report by Fana Broadcasting Corporation.

International Money Transfer Agencies like Western Union and Money Gram are to be used to help the trust fund collect money from Ethiopians.

An estimated three million Ethiopians live in different parts of the world including in Europe, North America, and Australia. In 2016, Ethiopia earned over US$4 billion dollars in remittance from Ethiopians living abroad.

Prime minister Abiy Ahmed is lobbying Ethiopians in the diaspora to commit a dollar a day to support development works in Ethiopia.

He is visiting two US cities, Washington DC and Los Angeles, at the end of this month for the sole purpose of meeting Ethiopians and discuss the situation in the country.

Ethiopians called off remittance embargo following the reform measures by prime mininster Abiy Ahmed.



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12 COMMENTS

  1. Transferring money from USA to any other government or political agencies is illegal. “disgorgement”
    read the policy before you send your cash U.S. Securities and Exchange Commission.

  2. Thia is a great start. However, it has to be announced officially, the address of the bank needs to be provided.

    Probably setup liaison persons in each major city to encourage and organize Ethiopians to participate and to contribute to the trust fund.

    If not well orchestrated and lead by a team of people at a leadership level, as well by creating representatives in each city, it may not take off as expected.

    I also think Dr. Abiy should ask big pledged from each Diaspora during his visit in DC and LA. There are some Ethiopians who can give tens of thousands of dollars and other less, as seed money for the trust.

  3. A great idea, but it needs to be coordinated with local representatives to make it more effective. For example, there should be a rep. in each city to encourage and to motivate participation. In addition, Dr. Abiy should ask for seed money from well-to-do Ethiopians to boost the fund’s initial capital immediately.

  4. Hi Everyone,

    Trustfund is a good idea. All the best idea would be to create the correct and condutive policy to let the money flow according to the basic economic laws.

    “Money have to make money”.

    To do so, there must be appropriate policy, institution, and transparency in place. Ethiopia or Eritrea are no exceptions to this.

    The idea of “Trust fund” seems to me not far reaching.

    Thanks

  5. Today I tried to send money to EDTF, but both WU and Moneygram weren’t able to transfer. Bank of America asked me 45usd to send 100usd.

  6. A dollar a day is the least we can do to our native land and community. As an Ethiopian we all have a moral responsibility to allow our fellow citizens a chance for a decent education and health facilities.
    Well done Dr Abiy.

  7. Hello everyone!
    To build trust with you as long as this project generated at least more than a million dollars, do something with the money has been collected and show us some project, then we will trust you and we will contribute more and more.

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