6 April 2019

Ethiopia: House Approves Different Loan Agreements

Addis Ababa — The House of People's Representatives (HPR), on its 4th extraordinary session on Friday, approved financial assistance agreements signed with different partners.

The government of Italy, China Import and Export Bank, and International Development Association are the partners that signed the assistance agreements.

The approved bills include over 229 million USD assistance for the Mekelle water project, 17 million Euros for enhancing urban sanitation, 30 million Euros to improve agricultural productivity, and 70.6 million Special Drawing Rights (SDR) for green economy.

The 17 million Euros assistance obtained from the government of Italy will be used for the urban sanitation program that will be implemented in six small and medium cities.

Another 30 million Euros obtained from the government of Italy is aimed to boost agro-industrial product chain and support farmers' associations in SNNP and Oromia regions.

The 70.6 million Special Drawing Rights (SDR) agreement with the International Development Association will be used to build resilience to climate change and infrastructures that are supportive for the development of green economy.

Some 645,000 households from Oromia, Amhara, Tigray, Benshangul-Gumuz, Gmabela and SNNP regions are expected to benefit from this project.

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