Ethiopia's National Bank sends more money to Tigray's Mekelle

However, the town is now springing back to life following the unprecedented truce. 

ADDIS ABABA, Ethiopia - The National Bank of Ethiopia has resolved to disburse more money to Mekelle, the regional administrative capital of Tigray, as the country seeks to increase money circulation in the northern state following a peace truce which has evoked relative stability in the country  for the last two months. 
 
A peace deal signed in Pretoria and Nairobi last year has seen both the Tigray People's Liberation Front [TPLF] and the federal government of Ethiopia embrace ceasefire, triggering political goodwill with both parties working extremely hard to ensure proper implementation is done. 
 
Mekelle was worst hit by the conflict leading to cutting of critical communication infrastructure, holding of banking services and electricity, completely grounding the economy of Tigray. However, the town is now springing back to life following the unprecedented truce. 
 
Prime Minister Abiy Ahmed ordered disbursement of 5 billion Birr [$90 million] to Mekelle up from 20 million Birr [$370,000] which was being circulated to the town. The money, business people had initially claimed, was not sufficient for the local economy which had struggled for the last two year. 
 
"As per the decision passed by P.M. Abiy, National Bank has begun sending 5 billion Birr to Mekele to be dispensed starting Monday. It's multifold increment from hitherto 20million. Also,  EAL increased its flights from 3 to 5 as of today," said Redwan Hussien, the National Security Adviser. 
 
Ethiopian airlines had resumed activities in Mekelle as part of the peace deal after the Tigray People's Liberation Front agreed to embrace ceasefire. The outfit has already surrendered sophisticated weapons to the Ethiopian National Defense Forces [ENDF] which has also activated withdrawal of foreign troops from Tigray. 
 
But it hasn't been rossy given that the TPLF still claims there is strong presence of Eritrean troops in sections of Tigray, despite locals reporting their massive exit last week. The troops from Eritrea along with Amhara regional militia have been working closely with ENDF in the war against TPLF, leading to international uproar. 
 
The dispatching of more money to Tigray is likely set to trigger revival of economic activities in northern Ethiopia after many months of stagnation. Prime Minister Abiy Ahmed has pledged to commit himself towards realization of nationalism which has been a tall order for the last two years. 

GAROWE ONLINE