The International Finance Corporation (IFC), the private sector lending arm of the World Bank Group, is to provide technical assistance for the Ethiopian Revenues & Customs Authority (ERCA) and the Ministry of Trade (MoT) worth 10 million dollars. The cooperation agreement with MoT and the ERCA was signed on March 08, 2013, at the Sheraton Addis Hotel. Ali Siraj, state Minister of Trade (left), inked the deal with Adamou Labara, resident representative of the IFC (centre), along with Abraham Nigussie, deputy director general (right) of the ERCA . The cooperation will focus on business registration, tax administration and trade logistics. The program plans to increase the registration of new businesses by at least 10pc and to reduce the time and cost of business registration by 25pc. The IFC will also work to reduce the number of days it takes to ship an export item from 42 days to 36 days. The time required to import items will be reduced to 37 days from 44 days, said Labara.