China Eximbank provides $143 million preferential buyer's credit for Phase I of Addis Ababa-Adama Expressway Project (Linked to Project ID #36251, #980, #589, #101)

In December 2013, China Eximbank and the Government of Ethiopia signed a preferential buyer credit (PBC) loan agreement [CHINA EXIMBANK PBC No. 2013(35) Total No. (279) 1420303052013211786] worth $333 million USD for the Addis Ababa-Adama Expressway Project. The loan agreement has a maturity of 20 years, an annual interest rate of two percent, a seven year grace period, and a 0.25 percent fee for administration costs.US$190 million of the loan proceeds were allocated to finance the design and construction of the Lebu-Akaki-Information Technology Park Outer Ring Road Project (also known as 'Lebu-Akaki IT Park Outer Ring Road Project' or 'Addis Ababa-Adama Expressway Phase II'). This project is captured in Project ID #36251. Another $143 million of the loan proceeds were earmarked for the completion of Phase I of the construction of the 78 km Addis Ababa-Adama Expressway (also funded by Project ID #101, #589, #980). This project was completed on May 5, 2014 (see '李克强与埃塞总理共同出席埃塞首条高速公路竣工典礼并参观东方工业园'). In October 2019, an official from the Ethiopian Toll Roads Enterprise (ETRE) reported that around 33 million cars had used the toll expressway over the previous five years, earning around $34 million of revenue for the country. The toll road reportedly generated $13.5 million of toll revenue in Fiscal Year 2019/2020. This expressway runs from Addis Ababa to Adama.

Additional details

This project is also known as the Addis Ababa-Adama Toll Motorway Design and Build Road Project.

Number of official sources

10

Number of unofficial sources

11