Tigray banking to be restored with Ethiopia’s help

The Ethiopian government announced on Saturday that it has allocated $90 million to be sent to the Tigrayan capital, Mekele, in order to restart banking services in the region. The National Bank of Ethiopia has started to transfer the funds, according to the national security advisor, Redwan Hussein. The prime minister’s advisor made the announcement through his official Twitter account.

In addition to the financial support, Ethiopian Airlines is also planning to increase the frequency of flights to the region. This move is expected to bring more aid and support to the region, which has been facing severe shortages of food, fuel, cash, and medicine.

The allocation of funds and the increase in air traffic come after Prime Minister Abiy’s first meeting with Tigrayan leaders since the signing of the peace agreement in Pretoria, South Africa, in November of 2020. Since the agreement was signed, the conflict between the federal government and the rebels in the northern Ethiopian region has come to a halt, and aid deliveries to the region have resumed.

However, the conflict, which started in November 2020, has resulted in a humanitarian crisis, with over two million people being displaced and hundreds of thousands suffering from near-starvation conditions, according to the United Nations. The United States estimates that the death toll from the war is over 500,000.

The government’s move to support the banking services in Tigray is seen as a step forward towards the restoration of peace and stability in the region. The allocation of funds and the increase in air traffic will provide much-needed support to the local communities and help to improve the living conditions of the residents in the region.