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Ethiopia, World Bank sign loan agreement amounting to 320 mln USD
ADDIS ABABA, (Xinhua) -- Ethiopia and the World Bank on Tuesday signed financing loan agreement amounting to 320 million U.S. dollars for road supporting project.
Ahmed Shide, Ethiopian State Minister of Finance and Economic Development, and Guang Zhe Chen, WB Country Director for Ethiopia, signed the agreement at a ceremony.
The project aims to upgrade the 258 km road of Nekempte-Bure, which provides a strategic link between the Oromia and Amhara regions of Ethiopia, and it forms part of the regional road link to Sudan. Speaking during the signing ceremony, Ahmed said the project upon completion in 2019 would benefit about 600,000 people who live within the areas the road crosses, and ultimately consumers and producers that are based within the project areas.
"The Government of Ethiopia appreciates the World Bank's efforts so far not only for its substantial support to our development endeavor but also for its leading role in bringing together other development partners to support development effort of the country," he said.
Guang Zhe Chen, WB Country Director for Ethiopia, noted that the project is a clear indication of WB's continued commitment to supporting Ethiopia's effort to develop its roads network.
According to WB's press statement, the total cost of the project is 385 million dollars of which the Government of Ethiopia contributes an amount of 65 million dollars.
I will buy the rope for those diaspora losers to hung themselves and their miserable pathetic life. I’m sure they will be jumping up and down with this news, which they tried to dictate WB and other institutions not to invest in Ethiopia in any developmental projects.
Do these diaspora losers really know how the world financial entities work with checks and balances? or they’re just blinded with hate and jealousy, to the point losing their thinking mechanism?
Addis fart the Idiot Tigre
Well why don’t you lecture us? Apparently you are clueless to the fact that diaspora continues to bailout your looting TPLF relatives who have no sense of discipline.
Hey thanks to the 4 billion remittance money Ethiopia continues to strive despite the looters TPLF, EFFORT and Azeb….by the way who will be caught and brought to justice.
Hey go north where you came from before you get caught day dreaming…..
Meles is DEAD and there is no more reyeee idiot! lllooollll
I am sure the money ends up in some weyannes pocket.
Borrow till you bleed. There is no DEPT RELIFE AGAIN. Mr. Bush saved Ethiopia from dept relief and here we are again borrowing it like a drunked driver who try to tank oil.
Adgi ,time to hang yourself than wasting your times salivating on futile Agazi Propagandas and Lies .Afterall the loan is
to finance Chiness Companies so not a single penny for the Ethiopian Peoples .And your bandit bosses are not really ready to share the bribes with their bandas starting by you ….LOL !!! “LE EFETAW KERTO LE FEREFAREW YALTEDAREG FANDYA LEFAFFI BANDA ” .
I know That drunkard driver is your boyfriend. LOL!
You better come out of the car and help him pumping gas oil in his car, before he burns you down alive.
I know why u get excited and become a horny toad every time Ethiopia fell in a debt! u or ur’s AMICHE/AGACHE kins will get a good amount of fare share and rip off from the loan initialy and as u SHIFTAS did the last 50 years all roads and bridges will be destroyed by KEHADI-WONBEDE bombs as soon as they are completed to get more loans.
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