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Ethiopia signed three credit financing agreements with the World Bank providing 400 million US dollars in loans. The loan is designated to finance the execution of the Electricity Network Reinforcement Project, Women Entrepreneurship Development Project, and Urban Water Supply and Sanitation.

The World Bank has been supporting a range of development programs as the country’s major development partner said Sufian Ahmed, Minister of Finance and Economic Development at the signing.

The agreements will support projects that provide comprehensive technical assistance and capacity building programs in Ethiopia according to Guang Z. Chen, Country Director of the World Bank in Ethiopia.

Ethiopia signed a 590 million dollar grant and loan agreement with France to boost water and energy projects, as well as for the construction of electricity transmission lines with Kenya, the Embassy of France in Ethiopia said.

The agreement will enable the French Development Agency to develop water and sanitation schemes and support the management of geothermal and windmill projects.

Trade Mark East Africa, a non-profit organization, signed an agreement with Ethiopia to open a new office in Addis Ababa. Professor Afework Kassu, State Minister of Foreign Affairs, and Mr. Frank Matsaer, Executive Director of Trade Mark East Africa (TMEA), signed a host country agreement today. The Minister said Ethiopia is undergoing socio-economic reforms which need regional economic integrity. The Minister appreciated the decision of the organization to open office in Ethiopia and said the government would assist in the process.

Ethiopia has signed a host country agreement with AeTrade Group, an African Diaspora-led social enterprise, to establish its East African regional headquarters in Addis Ababa.

The Ministry of Industry, Ethiopia and the Oromia Regional State signed an agreement with Turkish Investors for the development of 640 hectares of land.

The contract establishes that the investment on the land will include pharmaceutical, garment, leather processing and paper and packaging factories amongst others.

The zone will also include social service institutions such as health care, schools, technical and vocational training and hotels.

The complex will be one amongst the series of new industrial parks to be developed around the country.