Ethiopia: China to Put U.S.$1.4 Billion in Railway Pouch

Ethiopian officials have succeeded in winding up a deal with their counterparts in China that involves a 1.4 billion dollars in loans, which will be used to finance the national railway project, sources disclosed to Fortune.

A team comprising officials from the Ministry of Finance & Economic Development (MoFED) and the National Bank of Ethiopia (NBE) returned last week fromBeijing, the capital of the red nation, concluding what is described as a milestone agreement for the loans. However, details on the period of the loan and interest to be paid are hard to come-by.

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