(3 months read)
The International Development Association (IDA) has awarded a US$ 730 million grant to the Horn of Africa Initiative’s Regional Economic Corridor Project to enhance the Addis-Djibouti corridor, a vital trade route from Ethiopia to the port of Djibouti.
The International Development Association (IDA) has awarded a US$ 730 million grant to the Horn of Africa Initiative’s Regional Economic Corridor Project to enhance the Addis-Djibouti corridor, a vital trade route from Ethiopia to the port of Djibouti.
The project seeks to upgrade the road to Djibouti, especially the Mieso-Dire Dawa segment, which is currently in bad condition, in order to increase regional connectivity and logistics effectiveness in Ethiopia. This portion will be made safer, faster, and more fuel-efficient by being converted to a four-lane expressway. The project will also increase Ethiopia’s trade competitiveness. Investments in subsidiary roads will also link nearby villages with the main corridor and expand employment prospects. Long-term development results will be improved as a result of this.
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The initiative is in line with the African Continental Free Trade Area and the Country Partnership Framework for Ethiopia of the World Bank Group. It will encourage socioeconomic progress, combat poverty, and boost Africa’s competitiveness in the international market.
