Ethiopia, China sign 203 mln Birr loan, grant accord

Addis Ababa, April 18, 2011 (Addis Ababa, ENA) - The governments of Ethiopia and China signed Monday loan and grant agreements amounting to 203 million Birr for the execution of five projects.

Finance and Economic Development (MOFED), State Minister Ahmed Shide and Chinese Commerce Vice Minister Fu Ziying signed the agreements.

The money would be used to feasibility study on small hydro electric dams, potable water projects, biogas technology, solar energy and malaria prevention programs, it was noted.

On the occasion, Industry Minister, Mekonnen Manyazewal said China’s grant and loan is increasing as the relationship between the two countries gets cemented.

The Vice Minister on his part said the Chinese government will continue its support for Ethiopia that for its remarkable economic growth.

Of the stated sum close to 127 million Birr is a grant while the balance is loan, it was learnt.