The House of People’s Representative yesterday ratified six loan agreements for a total of 691 million USD credit signed with various international organizations.
The credit accords were signed to finance road projects, to expand basic infrastructures in urban areas and job creation. The first agreement the parliament ratified was the 380 million USD credit accord signed with the International Development Association to enhance industrial development.
The other agreement ratified by the parliament was the 187 million USD credit secured from the China import- export bank to finance the Dire Dawa-Dewale road at the eastern part of the country. The 100 million USD loan signed with the Korea Import- Export Bank for construction of the Mojjo-Hawassa Road, is another agreement ratified yesterday.
The parliament has also ratified the 33 million USD loan secured from the OPEC Fund and Arab Bank to finance the second phase of the Arbereket-Gelemso Micheta road project.
Source:ENA
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