Ethiopia Signs 456 Million Birr Grant and Loan Agreements with China

Addis Ababa, October 30, 2012 – (WIC) – Ethiopia and China signed 456 million Birr Grant and interest-free loan agreements on October 29, 2012.

State Minister of Finance and Economic Development, Ahmed Shide and Charge D’Affaires of the Embassy of China, Wei Hongtian signed the agreement.

Some 256 million Birr of the stated amount is secured in the form of grant while the balance 200 million Birr is obtained as interest-free loan.

State Minister of Finance and Economic Development, Ahmed Shide lauded the support of china in the improvement of the overall infrastructure sector in Ethiopia.

He assured that government is committed to utilizing the money for the intended purposes.

Wei Hongtian for his part said China will continue to support Ethiopia’s efforts to realize its Growth and Transformation Plan.