The China Import Export Bank (EXIM) signed a loan agreement of nearly USD 3 billion with Ethiopia and Djibouti on May 22, 2013 to finance  the construction of the 756km long Addis Ababa-Djibouti railway project.

The loan agreement also covers the 100km railway project that extends from the Ethiopian border with Djibouti to the Port of Dorrale.

The agreement was signed by CEO of the Ethiopian Railways Corporation, Dr. Eng. Getachew Betru, Minister of Economy and Finance of Djibouti, llyas Moussa Dawazeh and EXIM Bank Vice President Zhu Xinqiang. According to Ethiopian Radio & Television Agency, Prime Minister Hailemariam Desalegn and other senior government officials were also present during the signing ceremony.

Source: WIC