- Ethiopia has signed two grant agreements worth 118.1 million USD with the African Development Bank (African Development Fund) to support two projects.
- Revealing this, the Ministry of Finance Ethiopia stated that the first project, the Ethio-Djibouti Second Power Interconnection Project will receive a grant of 71.3 million USD through this financing agreement.
Ethiopia has signed two grant agreements worth 118.1 million USD with the African Development Bank (African Development Fund) to support two projects.
Revealing this, the Ministry of Finance Ethiopia, stated that the first project, the Ethio-Djibouti Second Power Interconnection Project will receive a grant of 71.3 million USD through this financing agreement. This project includes the construction of a transmission line from Semera to Djibouti and between Kombolcha to Semera including the construction of substations in Semera, Mile, and Kombolocha. The second project namely Integrated Agro-Industrial Parks and Youth Employment Project has been granted funds of 46.8 million USD. This will be used for the development and rehabilitation of irrigation schemes in selected areas near the integrated agro-industrial parks located in the Amhara and Oromia regions. Additionally, this project is also supported by the Arab Bank. The co-financing by Arab Bank will be used to implement irrigation schemes in Sidama and Tigray Regions.
The agreement was signed by Minister of Finance Ahmed Shide on behalf of Ethiopia and ADB’s Deputy Director-General, East Africa Region Abdu B. Kamara.
