The Ethiopian Diaspora Trust Fund (EDTF) Advisory Council (Council) announce that the Ethiopian Diaspora Trust Fund is officially launched on October 22, 2018, through its official website.
Over the past several weeks, the Council has diligently worked to set up the Fund in compliance with international trust fund best practices and relevant government regulations and banking policies, according to the statement.
According to the statement, many Ethiopians worldwide were eager to respond to respond to Abiy Ahmed’s call to pledge a dollar a day to support developmental works in the country.
In establishing the EDTF, the Council had to incorporate a not-for-profit charity organization, establish a bank account, negotiate with online payment systems and other funding platforms, comply with various regulations and establish governance, management and implementation procedures for maximum accountability and transparency. The Council has been able to achieve these tasks speedily, reads the statement.
The Council thanks the global diaspora Ethiopian communities for their patience and unwavering support for the EDTF.
The Council urges Diaspora Ethiopian diaspora, friends of Ethiopia and others interested in advancing freedom, democracy, human rights, and good governance and the EDTF to make their USD$1 contributions in one lump sum payment of USD$365 to build-up contributions for immediate commitment to launch projects, the council urged the diaspora community.
As H.E. Prime Minister Abiy Ahmed has explained, for the Fund to be successful, it requires the long-term commitment of diaspora Ethiopians.
After taking office in April Abiy Ahmed call for Ethiopian diaspora community worldwide to contribute one dollar a day to support different social services in the country.
A month after his request, advisory council responsible for collecting the money and controlling the overall financial and activities is formed.