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

  • India plans major infrastucture investment
    April 5, 2012
    India says it turned its Commonwealth Games into a world-class success, and now it aims to do the same with its infrastructure. Patrick Smith reports On October, 2010 India put itself on the world stage, and disaster appeared to loom as a catalogue of problems dogged its biggest ever sporting event. Costing nearly US$2 billion to stage, the most expensive Commonwealth Games ever were, according to some, in doubt. After years of planning some projects were incomplete, there were health scares and a br
    Read More
  • Funding sources being sought for Indian highways
    January 25, 2016
    India’s Ministry of Transport and Highways is looking to source loans to help fund highway development. The Japan International Cooperation Agency (JICA) looks set to provide a partial source for the funding required. In all just over US$885 million will be needed to pay for India’s National Highway Development Project (NHDP). The Japan International Cooperation Agency (JICA) has approved a loan of just over $590 million for the Indian Government-run National Highways and Infrastructure Development Corp (NH
    Read More
  • Kenya’s new road connection for port
    December 1, 2017
    Kenya is on track to build a new highway connection from the port of Lamu to Isiolo. The project is for a 530km highway and will cost US$620 million, with the route running through Garissa. The final route has yet to be identified but it seems likely that the highway will skirt a number of the country’s protected areas that are subject to tight environmental requirements and on which Kenya relies for much of its tourist trade. The project will be carried out by the Lamu Road Consortium (LRC), which comprise
    Read More
  • Mongolia’s capital Ulaanbaatar is redeveloping its airport
    August 23, 2016
    Mongolia’s economy is growing fast, with capital Ulaanbaatar the centre for activity. Being landlocked, the country depends heavily on aviation to carry passengers and cargo. The existing Chinggis Khaan International Airport was built in 1956 and upgraded in 1987 and 1997 for international traffic. But the old airport cannot meet demands and boosting the country’s capacity to handle flights is essential. The New Ulaanbataar International Airport (NUBIA) will triple passenger capacity to approximately 3
    Read More

Highlighted Content