Chinese Government RMB 124.3 million interest-free loan for Megenagna-Kebena Bridge-Arat Killlo and Kebena Bridge-Menelik II Hospital (5.8 km) Urban Arterial Road Project

On April 11, 2006, the Chinese Government and the Government of Ethiopia signed an interest-free loan agreement worth approximately RMB 124,370,823.36 (ETB 129,552,941) for the Megenagna-Kebena Bridge-Arat Killlo and Kebena Bridge-Menelik II Hospital (5.8 km) Urban Arterial Road Project. According to the Government of Ethiopia’s Aid Management Platform (AMP), the loan fully disbursed in a single tranche (worth ETB 129,552,941) on March 31, 2011. According to the Chinese Embassy in Ethiopia, the project was co-financed with the Addis Ababa City Administration. The purpose of this project was to construct or rehabilitate 5.8 km of roads from Kebena Bridge Square to Menelik II Hospital and from Megenagna to Arat Killlo via Kebena Bridge. China Road and Bridge Corporation (CRBC) was the contractor responsible for implementation. On April 24, 2010, an official project completion ceremony for the Kebena Square-Arat Kilo Road Project was held at the Kebena Bridge Square in the capital city of Addis Ababa.

Additional details

1. This project is also known as the Kebena Square-Arat Kilo Road Project and the Maganagna - Kebena - Menelik Hospital and Kebena Bridge - Arat Killo Road Project. 2. The precise borrowing terms of the interest-free loan are unknown. Therefore, standard MOFCOM interest-free loan borrowing terms (0% interest rate, 10 year grace period, 20-year maturity) are assumed. 3. The AMP system identification number for the project is 87143123101090. 4. 1 Ethiopian Birr (ETB) was equal to 0.96 Chinese yuan (RMB) in April 2006, which implies that the ETB 129,552,941 loan commitment for the Megenagna-Kebena Bridge-Arat Killlo and Kebena Bridge-Menelik II Hospital (5.8 km) Urban Arterial Road Project recorded in the AMP was worth RMB 124,370,823.36 at that time that it was contracted. 5. This MOFCOM loan is not included in the database of Chinese loan commitments that SAIS-CARI released in 2020 and re-released in 2021.

Number of official sources

3

Number of total sources

7