The Ethiopian Roads Authority announced a tender for the design of the the 80.5Km road from Gedo to Menebegna in Wollega Zone of Oromia. The project is part of the larger Gedo-Lemlem Bereha project, which is 144.3kms and is expected to require financing estimated at 50 million US dollars.
The Ethiopian government will fund 10 percent of the project while the remaining 90 percent is expected to be covered by loans.
The loans to finance the construction project are yet to be approved by the House of Peoples Representatives.
It is to be remembered that an agreement for 10 million US dollars of the financing of the project was signed at Lisbon in Portugal with the Arab Bank for Economic Development in Africa in June of 2011. Two other agreements were also signed last October with the Abu Dhabi Fund for another 10 million US dollars and with the Saudi Fund for Development for 25 million US dollars.The parliament referred the loans to the Finance and Budget Standing Committee this month after a detailed discussion but the ERA announced the bid for the design two days later.
Source: Fortune
