The Ethiopian House of People's Representatives approved the US$320 million loan agreement between the Ethiopian government and the Chinese Export-Import (EXIM) Bank to finance the Addis-Adama expressway On Thursday 28, November 2013, The Reporter reported.

The loan agreement was made between the Ethiopian Roads Authority (ERA) and the EXIM Bank in September 2013 includes a US$143 million of additional finance to finish the construction of the 80 km Adama - Addis Ababa expressway and a US$177 million loan to finance the outer Addis Ababa ring road, stretching along Lebu-Akaki-Guro, according to The Reporter.

The long-term loan agreement have a 2% annual interest rate and a seven year holiday period.

Source: The Reproter