Ethiopian Govt Signs a Deal With the World Bank for Road Construction

The Ethiopian government and the World Bank have agreed a loan of US$320 million to support road construction. The agreement was signed between Ethiopia’s State Minister of Finance and Economic Development, Ahmed Shide and World Bank Country Director for Ethiopia, Mr. Guang Chen, on Tuesday (March 18).

The loan will cover the upgrading of the 258 km. road between Nekempte and Bure, which provides an important link between the Oromia and Amhara Regional States, and also forms part of the regional road link to Sudan. The total cost of the project will be US$385 million of which the Government of Ethiopia will be contributing US$65 million.

State Minister Ahmed noted that the project when complete in 2019 would benefit more than 600,000 people living the areas served by the road as well as improve trade and development in the region.

The State Minister said the Government appreciated the World Bank not only because of its for its substantial support to the country’s development efforts but also because of its leading role in bringing together partners to support development in Ethiopia. Mr. Chen noted that the project was a clear indication of the World Bank’s continued commitment to support Ethiopia’s effort to develop its roads network.

Source : Government of Ethiopia

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