China Eximbank pledges loan for Zagora-Gassay Road Project
Pledged amount
$ 27300202.379741654
Adjusted pledged amount
$ 27300202.379741654
Constant 2021 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.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Ethiopia
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On January 22, 2014, the Ethiopian Roads Authority (ERA) signed agreements for the design and construction of three road projects. Under one of the agreements, a 44 km road project -- called the Zagora-Gassay road project -- will be undertaken link the towns of Mota, Wereta and Woldia in Amhara State. It will also have a seven meter wide divider with a 3.5 meter wide space for parking on the left side. This project will cost 485 million Birr and it will be constructed by China Railway Seventh Group Co. Ltd. The agreements were signed by Zaid W.Gebriel, Director General of ERA, and Wang Guanghui, representing China Railway Seventh Group Co. Ltd. According to Ethiopian Roads Authority's Engineering Procurement Directorate, the contract price was revised to 485,177,003.43 ETB. China Eximbank is providing the funding for this project.
Additional details
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Ethiopia [Government Agency]
Implementing agencies [Type]
Government of Ethiopia [Government Agency]
China Railway Engineering Corporation 7th Bureau (CREC7) [State-owned Company]