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Ethiopia Suspends Giving Land For Agricultural Investments

Ethiopia Suspends Giving Land For Agricultural Investments

From Fana Broadcasting Corporate via 2Merkato.com

Ethiopian Agriculture Investment and Land Administration Agency (EAILAA) suspended giving land for large scale agricultural investments. The suspension is for unspecified time, Fana Broadcasting Corporate reported.

According to Daniel Zenebe, Public Relations Director at EAILAA, the suspension came following the overlapping in granting of land, loan extension and investors capabilities and profiles. He furthered, last year 43 plots of land were given overlapping.

In addition to this, other reasons for the suspension include lack of adequate information on the capability and profile of investors.

Therefore, the Agency suspended providing land for large scale agricultural investment until these problems are solved, the Director explained.

In related news, Development bank of Ethiopia has also suspended giving out loans to large scale agricultural investments until problems in the sector are addressed.

Read more at 2Merkato.com