Ministry of Trade and Industry announced that USD100 million will be availed to manufacturers that are currently producing way below their production capacity due to raw material shortage.
The move comes at a time when the government is rushing to buy food stocks as Coronavirus disrupts local and global supply chains.
Numerous manufacturers partially stopped production due to raw material shortage. As global trade activities came to standstill because of the pandemic, importing inputs from abroad has become very difficult.
Ethiopia imported USD15 billion worth of goods last fiscal year while export stood at USD2.6 billion. Food import is expected to increase while imports of capital goods and other non-essential items are expected to fall.