2merkato provides business information for investors, suppliers, buyers, traders who are engaged or want to engage in business activities in Ethiopia.by Ethiopian Monitor Jul 20th 2020 · 1 min read
The Ethiopian Road Fund announced it has collected some $82 million (over 2.89 billion birr) in revenues in the Ethiopian fiscal year that ended July 7, 2020. The figure was collected from road funds, tariffs on lubricants, oil and petroleum, vehicle license renewal fees, and from the procurement of treasury bills.
Over 94 percent of the total revenue has been collected from tariffs on fuel, the Fund elaborated.
The amount collected is 91 percent of the target set for the 2019/20 Ethiopian fiscal year. The total figure is close to what was achieved last year, which was 2.9 billion birr.
During the year, the Fund has allocated some 1.4 billion birr to regional states and the Ethiopian Roads Authority, to see to the maintenance of over 14,532Km of roads.
Established in 1997 via a private-public partnership, the Ethiopian Road Fund aims to serve as a financial platform for road maintenance and road safety measures.