1957

Economic Planning Commission

The USSR and Ethiopia have agreed to a deal wherein the USSR will provide 300 million USD equivalent worth of materials and goods to the Ethiopian State. This will be a landmark deal which will allow for the implementation of the Ethiopian 5-year plan, the first 5-year plan since the disastrous Imperial era implementation which failed the people.

This new plan will focus upon building up the basis for the people’s industrialization through the expansion of existing strong industries. The main ones being mining, cement, chemicals, and expansion of the agricultural base as well as critical infrastructure.

The distribution of funds will be as follows:

• 60 million towards mining, specifically modernizing and expanding existing mineral extraction such as for Gold, but also establishing new mines for our nation’s moderate coal and iron reserves to aid heavy industrial development. Finally extra priority must be given to mining in support of the national cement building effort.

• 70 million will be dedicated to heavy industrial development such as chemicals and cement, this will expand upon the existing base built up over the past decades under the Imperial system

• 60 million will be dedicated towards the metallurgy and machine tools sector. Establishing steel and other metallurgical facilities and basic machine tools construction to further support cyclical development in the economy.

• 110 million will go towards agricultural investment. The agricultural sector must increase its productivity through the development of our domestic supply chain for fertilizers, import draft animals to decrease labor needs on farms, encourage the participation of women in the workforce. Finally, on select state farms limited mechanization will begin with cooperation from foreign partners.