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Eritrea to pay Ethiopia millions

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Eritrea to pay Ethiopia millions An international tribunal in The Hague has ruled that Eritrea will have to pay Ethiopia millions of dollars in compensation for war damages. Both were ordered to pay each other damages for the 1998-2000 border war, but the verdict leaves Eritrea with $10m (£6m) more to pay. The ruling covers compensation for businesses and goods lost and villages destroyed during the bitter conflict. Eritrea has already said it accepts the ruling of the tribunal. The Claims Commission, set up at the end of the war, ruled on awards across a range of issues. It gave a monetary value to the damage suffered by Ethiopians during a notorious incident when Eritrean jets dropped cluster bombs on a school in the town of Mekele. It also awarded Eritreans living in Ethiopia, whose homes and properties were seized by the government. Some claims - such as an Ethiopian demand for $1bn of environmental damage - were dismissed. In total Ethiopia was awarded $174m...

Sembel Residential Complex in Asmara – One of Africa’s Largest Housing Projects with Hospital, Schools, and Sports Facilities

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Sembel Residential Complex, Asmara: A Model of Modern Urban Living in Eritrea The city of Asmara has been rapidly transforming over the past few decades, particularly in the housing sector. Among its most iconic developments is the Sembel Residential Complex , widely recognized as one of the largest and most well-planned housing complexes in East Africa . Commonly referred to as "Corea" due to its construction by Keangnam Enterprises , Korea’s first contractor, the complex stands as a powerful symbol of international cooperation and visionary urban planning.

Eritrea sells luxury houses to earn hard currency

Eritrea sells luxury houses to earn hard currency It may look like a truck park by Asmara's Halibet Hospital on the edge of town, but the Eritrean Government, keen to tap the hard currency held by the large overseas Eritrean community, has other plans. The poor Red Sea state plans 766 "new residential-style" two and three-bedroom apartments there, with shopping centres and sports facilities, the project's website halibet.com says. The prices, between US$97,000 and US$139,000, are low by London and New York standards, but out of reach for most Eritreans whose average income is just US$130 per year. Glossy brochures are available in Eritrean embassies abroad and payment can be made in US dollars, euros and British pounds but not in nakfa, the national currency. The government has hard currency reserves equal to only one month of imports, according to the International Monetary Fund ( IMF ), and must find innovative ways of earning crucial cash. "This econ...

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