Dear Supporters and Trusted Friends of EDTF,
At a time when EDTF and its supporters are focused on supporting the efforts to combat the COVID-19 threat in addition to launching the development projects, we are deeply concerned and saddened by the information reported by few media outlets regarding EDTF’s funds. We can confirm that no funds have been misused. We have put in place appropriate internal controls to safeguard EDTF’s funds to ensure the highest standards of accountability. We shall continue to closely and routinely monitor all financial transactions. In the meantime, we would like to share some facts.
- EDTF funds will always be used appropriately and transparently. We assure our donors and supporters that there are no financial irregularities or misuse of EDTF funds. Out of the total amount raised to date $6.360M from over 25,000 donors, $1.173M has been recently disbursed to support the COVID response effort. No other donations have been disbursed to project recipients yet. We could not be more grateful for this successful global effort thanks to you.
- Five projects are approved for funding and seventeen are pending. There has been full agreement on funding the five projects that have undergone multiple reviews and approved by the Board of Directors. The seventeen pending projects have yet to receive board consensus and will be further reviewed to determine if they are able to fulfill the various predefined criteria identified for EDTF funding.
- EDTF has committed $1.173M dollars for our COVID 19 Mitigation. We are very pleased to report the Personal Protective Equipment (PPE) listed in our May 4, 2020 press release has been purchased. Thanks to our donors, EDTF has made an incredible donation of medical supplies that will be sent to combat the spread of COVID-19 in Ethiopia.
The establishment of the Ethiopian Diaspora Trust Fund (EDTF) Advisory Council on August 8, 2018, continues to be a proud moment in the diaspora‘s history. EDTF is pleased to be one of the first modern-day mechanisms formalizing remittances for development of this magnitude by the Ethiopian diaspora. While the current global pandemic has challenged our health, safety, and everyday life, we know our collective effort to help Ethiopia prevail.
Our combined effort to fundraise for projects aimed at socio-economic development and our additional fundraising effort to provide necessary medical equipment in the country will ultimately help Ethiopia and her people. We will keep you updated on our progress. We applaud you for joining our global effort! Most importantly, we assure our stakeholders, the large diaspora community, that EDTF’s unmatched integrity and transparency will continue to be its guiding principle and stay as important and as strong as ever.
The Ethiopian Diaspora Trust Fund