Africa Development Bank approves U.S. $98 mln. funding for Ethio-Djibouti road project

Africa Development Bank _ Ethiopia _Djibouti road project

borkena
August 7, 2019

Abidjan Africa Development Bank approved U.S. $98 million in funding for road transport corridor linking Ethiopia and Djibouti. Ethiopia’s Minister for Finance, Ahmed Shide, Abdul Kamara, from the bank, has signed the agreement on Wednesday, August 9, 2019.

The cost of the entire project is said to be U.S. $ 255 million. Ethiopia will spend U.S. 151 million towards the project while Djibouti will inject U.S $ 5.3 million dollars, according to a report by Ethiopian Broadcasting Corporation (EBC) which cited the Bank as a source.

The road project covers 126 kilometers of which 60 kilometers is a four-lane expressway, and it is expected to commence next year.

Djibouti and Ethiopia are also linked by Chinese built electric railway which covers a distance of 760 kilometers which became operational in 2018.



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