China Eximbank signed MOU for $300 million master loan facility to fund Growth and Transformation Plan in Ethiopia (linked to Project ID #1464)
Constant 2017 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
This project is classified as an "umbrella" project, and is connected to related projects.
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Other multisector (Code: 430)
On December 5, 2011, Bekalu Zeleke, President of the Commercial Bank of Ethiopia (CBE), and Zhu Hongjie signed a memorandum of understanding) with which the China EXIM Bank agreed to provide a master loan facility of 5.2 billion birr (approximately 300 million USD) to Ethiopia. According to MoFED, the loan will be used for the implementation of various projects planned under Ethiopia's five- year Growth and Transformation Plan (GTP). According to the Ministry of Foreign Affairs, a loan agreement of about 1.7 billion birr was also signed and will be 'utilized to drill water wells in selected areas of [Addis Ababa,]' This financing is captured in project #1464 (also see '埃塞媒体报中国、埃塞签署69亿比尔贷款协议'). The status of the projects are uncertain.
This master loan facility is likely different from the US$ 500 million master loan facility captured in #1456.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Commercial Bank of Ethiopia (CBE) [State-owned Bank]