The Ethiopian House of People’s Representatives approved loan agreements worth half-a-billion dollar on Tuesday, according to The Reporter.

The amount obtained through the loan agreements will be used to finance projects such as Modjo-Hawassa highway, the Arba Rakati-Gelemso Micheta road, the Second General Education Quality Improvement Project II, and the Sustainable Land Use Management Project II.

The Ministry of Finance and Economic Development (MoFED) concluded financing agreements with various international institutions, notably the OPEC Fund for International Development (OFID), the Bank of Arab Development and Economic for Africa (BADEA), the Saudi Development Fund (SDF), the International Development Association, and the African Development Bank (AfDB), according to the paper.

Source: The Reporter