Chinese financiers have agreed to loan 1.4 billion US dollars for the Ethiopian railway project. A team that was sent to China returned last week with the news from Beijing. The team compromised of representatives from the National Bank of Ethiopia and the Ministry of Finance and Economic Development.
The agreement reached is said to be a milestone in financing the railway project. The team is yet to announce the terms of the loan including the period of payment and interest. It is possible that the amount of the loan can be higher depending on the outcome of follow up meetings according to senior official from MOFED.Add a comment Add a comment