South Korea Exim Bank has provided $264 million loan to the Government of Ethiopia supporting ongoing development projects of the government. Of the total $170 million will be used for national electricity project involving transmission line in the southern part of the country. The remaining $94 million loan will be used for irrigation and rural development projects that can boost the productivity of smallholder farmers and improves their livelihoods. It is recalled that a week ago, the government of Korea has agreed to provide $300 million loan to the government of Ethiopia. The loan will be used for the construction of Adama Center of Excellence and construction of Addis Ababa express bus lane.

Source: News Business Ethiopia April 22, 2019 23:03 UTC