Funding found for Ethiopia road project

The World Bank is offering Ethiopia a loan worth US$370 million for the construction of a new expressway. The Ethiopian Roads Authority (ERA) will use the loan to construct the 57km Batu Ziway-Arsi Negele section of the 203km Modjo-Awassa expressway. The loan will be repaid over 38 years with six years of grace period. The Modjo-Awassa expressway has four sections, with the 52km Arsi-Negele section to be funded by China EXIM Bank. Korea EXIM Bank will finance the 37km Meki-Ziway section and the African Deve
June 4, 2015 Read time: 1 min
The World Bank is offering Ethiopia a loan worth US$370 million for the construction of a new expressway. The Ethiopian Roads Authority (ERA) will use the loan to construct the 57km Batu Ziway-Arsi Negele section of the 203km Modjo-Awassa expressway. The loan will be repaid over 38 years with six years of grace period. The Modjo-Awassa expressway has four sections, with the 52km Arsi-Negele section to be funded by China EXIM Bank. Korea EXIM Bank will finance the 37km Meki-Ziway section and the African Development Bank will fund the 57km Mojo-Meki section. The China EXIM Bank is also funding a project to build the Dire Dawa to Djibouti expressway, which is costing around $300 million while CGC Overseas Construction Group is the contractor handling the project.
Finance & Funding Road Structures

Related Content

  • East Africa’s dream of a ‘Silk Road’ in sight
    October 22, 2021
    East Africa’s dream of a ‘Silk Road’ route to boost trade and transport is now in sight
    Read More
  • Serbian roads to get Chinese funding
    November 28, 2012
    Talks between the Chinese Development Bank and the Serbian Government could result in €400-€450 million of Chinese funding for Serbian highway projects. The Danube coast and the Corridor 11 projects are among those earmarked for a potential cash boost. Serbia’s Ministry for Transport (MOT) is also in talks with Chinese partners about other highway builds including100km of the Belgrade-Cacak, Belgrade-Obrenovac, Preljina-Ljig and Lajkovac-Ljig routes, as well as the 100km Pojate-Preljina project. China Road
    Read More
  • Loans from Europe will fund highway works in the nation of Georgia
    May 15, 2012
    Loans from the European Investment Bank (EIB) and the EU will fiancé highway work in Georgia. The funds will be used to pay for the construction of the high-speed motor road running from West – East across Georgia. The EIB will give a long-term preferential credit worth €170 million, while the EU will provide a €20 million grant. As part of the project, a four lane highway measuring 52km will be built from Samtrediya – Grigoleti, while the 16km section Grigoleti - Kobuleti stretch will be repaired.
    Read More
  • Big East Asia backing for Colombo, Sri Lanka expressway and bridge projects
    February 26, 2014
    China Merchants Holdings (International) Company and China Merchants Hua Jian Highway Investment Company have Sri Lankan government approval to build and operate an expressway from the capital, Colombo, to the central part of the country. With the recently won approval, both companies would plan, design, finance, build and operate the first section of the US$4.5 billion Northern Expressway system. The $1.5 billion first section of the expressway will be built in four stages, namely from Ambepussa to Kandy
    Read More

Highlighted Content