Arab Bank for Economic Development in Africa (BADEA) has concluded 266 million Birr loan agreement with Ethiopia to finance the Shambu-Bako Road project in Oromia Regional State, according to Ethiopian News Agency (ENA).

Ahmed Shide, Minister for Finance and Economic Development of Ethiopia and Abdelaziz Khelef, BADEA’S Director-General has concluded the loan agreement.

State Minister Ahmed said, the project is going to benefit 300,000 consumers, traders and producers.

Ethiopia has 30 years, including a grace period to repay the loan with one percent of interest a year.

Source: Ethiopian News Agency