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Ethiopia $255 million road project secures funding

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Christian Fernsby ▼ | August 16, 2019
Ethiopia road
Africa   Ethiopia road

A road project in Ethiopia is benefiting from a financing package worth $98 million being provided by the African Development Bank (AfDB).

Topics: Ethiopia road

In all the project, to build a new road to connect with Djibouti, will cost $255 million.

The Ethiopian Government has secured a $151 million co-financing package for the project.

The Djibouti Government has received a package worth $5.3 million to pay for the work.

The project is of importance for landlocked Ethiopia as it will provide a key transport link to Djibouti’s port.

The project will be of major economic importance for both nations, helping to develop trade.

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