Ethiopia’s lower house, House of Peoples’ Representatives (HPR), adopted 6 loan agreements in its 42nd regular session. The loan agreements were concluded with the International Development Association (IDA), Japan International Cooperation Agency (JICA) and the Italian Government.

The loan from IDA is said to be utilized for financing the second urban water supply and sanitation; commerce and logistics; and national quality assurance and infrastructure expansion projects. Loan acquired from JICA, on the other hand, is said to be aimed to support the women entrepreneurship development project while loan from the Italian government will be used for strengthening health institutions in Ethiopia.

Commenting on the development Genet Taddese, Chairperson of Budget and Finance Affairs Standing Committee of the House, said the loan agreements were crucial as they would enable Ethiopia to continue the ongoing development. The loans secured were of low interest and in line with the country’s laon strategy, she added.

Source: Ethiopian News Agency