China has promised Ethiopia a 700 million USD loan for infrastructure and industrial development, Ethiopian News Agency reported.

The promise was made when Ethiopian Prime Minister Hailemariam Desalegn held discussion with a delegation led by Jiang Jianqing, Chairman of the Board of Directors and Executive Director of Industry and Commercial Bank of China (ICBC) yesterday, July 23, 2015.

Ahead of this pledge, China has already made a decision to provide 550 million USD for Omo Kuraz Project, it was indicated.

Source: Ethiopian News Agency