Ethiopia Receives Debt Relief from China

China-Ethiopia-MeetingSeptember 6, 2018 - China has agreed to extend debt repayment period for Ethiopia for the Addis Ababa-Djibouti cross-border railway.

According to Prime Minister Abiy Ahmed which just visited China, China has pledged to extend debt repayment period for a loan from 10 to 30 years.

The two countries also held extensive discussions regarding the trade volume between the two countries and development assistance, the Premier stated.

Prime Minster Abiy was in Beijing to attend the 7th Forum on China-Africa Cooperation.

“We conducted wide ranges of discussions with China especially how can we balance the trade volume between the two counties and increase our export products to China through expanding the destination for Ethiopian Airlines,” the Premier added, according to FBC.

Upon arrival in Addis Ababa, the Premier briefed journalists on his trip to China which he said was fruitful. He also said that he was invited for an official visit to China.

On the sidelines of the FOCAC, Ethiopia conducted successful bilateral discussions with different countries and international organizations including China, he pointed out.

China has pledged to provide new funding worth 60 billion USD to Africa, aimed at supporting African inclusive development.

“We need to be ready to benefit from the allocated resource of 60 billion USD,” the Ethiopian Prime Minister said.



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