Ethiopia and World (WB) sealed a 370-million-USD loan agreement to support the Ethiopian Expressway Development project, Ethiopian News Agency reported.
Ethiopia will make use of the fund to construct the 57 km Zeway-Arsi Negele section of Modjo-Hawassa road.
Ahmed Shide, Finance and Economic Development State Minister, at the signing ceremony said Modjo-Hawassa Expressway Project upon completion will enhance trade interactions with neighboring countries.
Ahmed said Ethiopia applauds “WB’s efforts not only for its substantial support to our infrastructural development endeavor but also for its leading role to bring other development partners to support development efforts in the country.”
WB Country Director Guang Z.Chen stated the Bank has been supporting the road sector development.
WB’s overall contribution for Ethiopia’s road sector development over the last 17 years has reached 13.3 billion Birr, Ethiopian Roads Authority Director-General Araya Girmay noted.
Source: Ethiopian News Agnecy
