China Eximbank provides RMB 634 million government concessional loan for Phase III of Addis Ababa Deep Wells Water Supply Project (link to Project ID #30022)

On August 16, 2011, China Eximbank signed a $95,680,000 loan agreement [Loan Agreement No. 1420303052011111536] with the Government of Ethiopia for Phase III of the Addis Ababa Deep Wells Water Supply Project. The Government of Ethiopia reported a 634 million RMB loan. The Ethiopian Government ratified the loan agreement on December 5, 2011 (see '驻埃塞俄比亚大使腊翊凡出席亚的斯亚贝巴供水项目竣工仪式'). The terms of the loan are as follows: 2% interest rate, 8 year grace period, and a 21 year maturity. This project was initiated on November 19, 2012. The project completion ceremony for the Phase III of the Addis Ababa Deep Wells Water Supply Project was held on March 8, 2015. CGC Overseas Construction Co. Ltd, (CGCOC) was the implementer.The purpose of this project was to drill 24 water wells -- including three deep water wells in the Akaki well field areas -- and produce about 10,000 cubic meters of water per a day, thereby benefiting 100,000 people. The project also included 266.3 km of main line installation, 10.5 km distribution line installation, and 25.8 km of collection lines. It also included construction of six water tankers that have the capacity of holding from 1,000 cubic meters of water to 5,000 cubic meters of water. At the same meeting, China and Ethiopia signed an MOU for a $300 million loan facility at the Ethiopian Ministry of Finance and Economic Development (MoFED) in Addis Ababa, Ethiopia (Project ID #30022) (see '埃塞媒体报中国、埃塞签署69亿比尔贷款协议').

Additional details

The Chinese project title is 的亚的斯亚贝巴深井供水项目(三期).

Number of official sources

9

Number of unofficial sources

5