BADEA loans Ethiopia 13 million dollars for road project

Khartoum- Sudan (PANA) -- The Khartoum-based Arab Bank for Economic Development in Africa (BADEA) has extended a 13-million-dollar loan to Ethiopia for the co-financing of the Gore-Gambella road project, the Bank said in a release Tuesday.
The loan is to help rehabilitate the 145-km-long road.
According to the release, the project involves civil works, construction of bridges, storm water drainage structures as well as traffic safety works.
The loan is repayable in 28 years, with a six-year grace period and an annual interest rate of one percent.

04 june 2002 18:58:00




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