Ethiopia road project secures funding

A road project in Ethiopia is benefiting from a financing package worth US$98 million being provided by the African Development Bank (AfDB). In all the project, to build a new road to connect with Djibouti, will cost $255 million. The Ethiopian Government has secured a $151 million co-financing package for the project. The Djibouti Government has received a package worth $5.3 million to pay for the work. The project is of importance for landlocked Ethiopia as it will provide a key transport link to Djibouti’s port. The project will be of major economic importance for both nations, helping to develop trade.