Addis Ababa July 23/2015 China has pledged 700-million-USD loan to Ethiopia for its infrastructure and industrial development.
Prime Minister Hailemariam Desalegn held talks today with a delegation led by Jiang Jianqing, Chairman of the Board of Directors and Executive Director of Industry and Commercial Bank of China (ICBC).
The pledge was made during the occasion.
China had earlier decided to extend 550 million USD loan for Omo Kuraz Sugar Project, it was learned.
During the discussion, Hailemariam said Ethiopia needs governmental and non-governmental financial institutions that help it sustain its rapid growth.
In this respect, the willingness of the Industry and Commercial Bank of China to work with Ethiopia coincides with the interest of the country, he stated.
The PM indicated that the request of Chinese financial companies to jointly work with Ethiopia is of mutual benefit to the countries and the partnership would be consolidated in this regard.
Jiang Jianqing said on his part that the bank is ready to further collaborate with Ethiopia in industry and infrastructure development sectors in the future. - See more at: http://www.ena.gov.et/en/index.php/economy/item/1159-china-to-provide-700-million-usd-loan-to-ethiopia#sthash.ZvsguKM4.dpuf