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Ethiopia’s Parliament approves seven loan agreements

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Ethiopia’s House of Peoples’ Representatives (Parliament) on Thursday unanimously approved seven loan agreements.The House approved the $30 million agreement the country signed with OPEC Fund for International Development.

It also endorsed the $30 million loan with the Arab Bank for Africa Economic Development, and another $20 million with the same bank to be used for the upgrading of the Shambu-Agamsa road in southern part of the country.

The House also approved the agreement inked with the China EximBank for $171.8 million for the construction of the Arsi-Negele-Hawassa road, which is part of the Hawassa-Modjo expressway.

Furthermore, the House endorsed the $218.6 million loan agreement with the African Development Fund and the China EximBank $262.2 million loan for the implementation of a water project in Dire Dawa city, as well as for the construction of the Aisha wind farm and Adama-Hunan industrial park respectively.

The loan agreement signed with the European Investment Bank for lease and loan services to small and medium enterprises was also approved.


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