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Add to Preferred SourcesParliament has approved the 859.6 million dollar loan agreements the Ministry of Finance & Economic Cooperation (MoFEC) secured to finance road, industrial parks, small business enterprises, and wind power projects from different donors and borrowers last month.
The Ministry signed a 50 million dollar donation agreement with the Arab Bank for Economic Development and OPEC Fund for International Development in Africa to finance the Shambu-Agamsa road upgrading project on May 24, 2017. The Export-Import Bank of China has provided a 262.2 million dollar loan for the design and building of the Adama Machinery & Equipment Manufacturing Industrial Park.
A loan agreement of 79.8 million dollars was also signed between the Ministry and the European Investment Bank for the development of Small & Medium Enterprise (SME) projects on May 16, 2017. MoFEC also signed 218.6 and 171 million dollars in loan agreements with the Export-Import Bank of China to finance the Aysha Wind Power Project, and the Arsi Negele-Hawassa section of the Modjo-Hawassa Highway project, respectively, on May 12, 2017.A loan agreement of 62.2 million dollars was also signed between the government and the African Development Bank (AfDB) to support the One Water, Sanitation & Hygiene National Program (OWNP).
Source: AllAfrica. Read full article here.
12 July, 2017