Illinois Asset Protection News

U.S. Government and DPPC Commissioner Simon Mechale Sign Development Program Agreements Valued at 18.2 million Birr (US $2.1 million)

Addis Ababa (U.S. Embassy) – On September 16 U.S. Ambassador Aurelia E. Brazeal, Disaster Prevention and Preparedness Commission (DPPC) Commissioner Simon Mechale, and the Director of the U.S. Agency for International Development (USAID) Bill Hammink signed a grant agreement worth 18.2 million birr (US $2.1 million). The total estimated funding from 2004 – 2008 will be over 93.6 million birr (US $10,760,000).

This grant to the DPPC is part of USAID assistance to the Government of Ethiopia to help strengthen Ethiopia’s capacity to anticipate and manage shocks, such as drought, flooding, and conflict.  Technical assistance will also be provided to other key ministries, such as health, water and agriculture to strengthen their emergency response capability at the federal and local levels.  The grant complements U.S. Government financial and technical assistance to the Productive Safety Net Program totaling 164.2 million birr (US $19.0 million) through the Ministry of Agriculture and Rural Development’s Food Security Coordination Bureau.  In addition, the U.S. Government has committed to provide 864 million birr (US $100 million) of food assistance to Ethiopia for U.S. Fiscal Year 2004 in support of the Productive Safety Net Program. 

This grant from the U.S. Government, together with the four grants signed on September 10 with the Ethiopian Government, comprise funding for new programs over the next five years with a total estimated value of 2 billion birr (over $231,000,000) for development.  These grants signal a growing partnership between the U.S. and Ethiopia.  The overall aim of U.S. assistance is to help improve basic community services in health and education, to diversify livelihoods and build assets, especially of the rural poor, and increase economic opportunities for all Ethiopians.

With the agreements signed today, the total amount of U.S. Government development assistance in FY 2004 is 532.5 million birr (US $61.6 million).  These allocations support programs in economic growth, private sector development, livelihood and asset protection, health, population, nutrition and HIV/AIDS, education and democracy and governance which are a testament to the strong partnership between the governments of the United States and Ethiopia in addressing sustainable development and poverty reduction.

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	A Living Trust is an entity created for the purpose of holding and managing assets A Living Trust is an entity created for the purpose of holding and managing assets for the benefit of the creators of the Trust (the “Trustors”) during their lifetimes and then for the purpose of management and distribution of the assets to the beneficiaries designated by the Trustors. There are various reasons for creating Living Trusts: (a) To avoid probate administration on death of either Trustor. (b) To avoid a court supervised conservatorship in the event of lifetime disability of either Trustor. (c) To provide for the management and distribution of assets during continued administration of the Trust or upon its termination.