Addis Ababa, April 17, 2019- With a view to strengthening the development cooperation between Ethiopia and South Korea, a framework arrangement amounting to $300 million has been signed between the two countries.
The framework arrangement was signed in Addis Ababa yesterday by Admasu Nebebe, Ethiopia’s State Minister of Finance and Mr. Lim Hoon-min, Ambassador Extraordinary and Plenipotentiary of South Korea to Ethiopia.
The loan will be used to implement high priority projects for the years 2019-2020, according to a press release issued by the Ministry of Finance.
More specifically, it will be used to support the establishment of 5 centers of Excellence in Adama Science and Technology University, for the Addis Ababa bus rapid transit (BRT) line and other projects.
FBC
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