Export and Import Bank of China (EXIM Bank of China) promised 1 billion USD loan for the construction of industrial park in Ethiopia. The industrial park once its construction is over, is expected to host Chinese enterprises.

Arkebe Equbay, Special Advisor to the Prime Minister, hosted Chinese delegation team led by Hunan Provincial Government. According to him, the governments of Ethiopia and Hunan Province have agreed to develop an industrial park in Adama. The industrial park would host manufacturers that will produce earth moving heavy duty machineries, he added.

Arkebe explained the park would be built by CGC Overseas Construction, the same company that built Tsehay Real Estate’s properties, Adama Wind Farm and the Hansom Glass Factory.

Commenting on the development, Wang Yibing, Governor of EXIM Bank of China Hunan Branch, said in the aim of having the industrial park opened in 2 to 3 years, the EXIM bank vows to accelerate procedures and approve the loan needed for the project.

Source: The Reporter