Ethiopia, African Dev’t Bank Sign 95.6 Mn USD Grant Agreement


Ethiopia, African Dev’t Bank Sign 95.6 Mn USD Grant Agreement
Ethiopia, African Dev’t Bank Sign 95.6 Mn USD Grant Agreement

Ethiopia and African Development Bank (AfDB) have signed USD 95.6 million grant agreement to finance the construction of the first section of the Adama-Awash Expressway project in the Ethio-Djibouti transport corridor.

The grant proceeds from the AfDB will finance the construction of the first 60km of Adama Awash Expressways from Adama to Melka-Jilo town.

Signing the agreement, Finance Minister Ahmed Shide said the project will enhance the regional integration in trade and transport through the improved road network, road safety and savings in time and vehicle operating costs.

Carriers, travelers, traders, agro-business investors and other operators are expected to benefit from an improved road connection when the project is completed, he pointed out.

According to the minister, it will also create jobs to local communities, especially youth and women, and improve access to health and education facilities.

African Development Bank Country Manager, Abdul Kamara said on his part the Ethio-Djibouti transport corridor will serve as a basis for regional integration.

Ethio-Djibouti transport project phase I will deepen these economic trade, and transport integration efforts, he added.

The Ethio-Djibouti Transport Corridor is planned to be implemented in 3 phases, of which the first phase consists of the construction of 126 km four-lane expressway from Adama to Awash. The grant signed today will be used for the implementation of the construction of the first 60 km of section 1 of this road starting at Adama, it was learned.

ENA

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Solomon Yimer

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