Abel Birhanu daily Ethiopian news 02 September 2020


Abel Birhanu daily Ethiopian news 02 September 2020

In a press conference held today, Amhara Credit and saving Institute (ACSI) has announced transformation of its Micro Finance System in to a bank. CEO of ACSI, Mekonnen Yelewmwosen said preparations have been carried out to make the bank fully operational within three to six months.



The Institute has finalized preparations to offer trainings to its employees facilitate service rendering offices and organize database center as part of pre-operational activity, the CEO noted.The bank will start services at its 53 existing branches all over the country with a principal capital amounting close to 8.5 Billion Birr, according to the CEO. The share of the Amhara Regional government in the institute will be reduced from 98 pct to 70 pct when the bank comes in to full operation.


The Trump administration has indicated that it will not participate in international coalition efforts to find and distribute a vaccine for Covid-19 because the World Health Organization (WHO) is involved.


The Washington Post newspaper reported that the White House would not join 172 other countries participating in a WHO-led initiative to “ensure equitable access to safe and effective vaccines, once they are licensed and approved”. White House spokesman Judd Deere said in a statement that the US would “continue to engage our international partners to ensure we defeat the virus, but we will not be constrained by multilateral organisations influenced by the corrupt World Health Organization and China”.

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