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

  • Two Macedonia highway projects are delayed
    June 23, 2017
    Delays have hit the construction of two new highway projects in Macedonia. Funding for the projects has been provided through a loan package from China worth €574 million.
    Read More
  • Loans for Georgian roads
    July 20, 2012
    Loans from the European Investment Bank (EIB) and the EU will finance 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
  • Kazakhstan highway being handled by consortium
    February 12, 2018
    An international consortium has been formed that will handle a major highway project in Kazakhstan. Worth US$730 million, the consortium’s contract is to build and operate a new tolled ring road around the capital, Almaty. The construction consortium comprises the Turkish contractors Alarko and Makyol, SK Engineering & Construction and Korea Expressway. The funding package for the project meanwhile is being provided jointly by the International Finance Corp and European Bank for Reconstruction and
    Read More
  • Progress delayed on Kenya's vital highway link
    February 16, 2012
    Kenya is investing in road developments , reports Shem Oirere. A multi-million dollar highway expansion project in Kenya's capital Nairobi may now be delayed for close to a year because of a huge underground network of water, electricity and communication pipes and cables that has slowed down construction works.
    Read More

Highlighted Content