Brazilian Development Bank to Provide USD1 Billion for Ethiopian Railway Project

The Brazilian Development Bank will extend USD 1 billion in funding to construct a portion of the railway project that will connect Ethiopia and South Sudan, an Ethiopian Foreign Ministry official said.

Brazil's Andrade Gutierrez Participacoes SA will be contracted to build the railway link running from Addis Ababa, to Jimma about 439 kM to the southwest, Taye Atskeselassie, director general for the Americas at the ministry, said in an interview on May 24.

The Brazilian Development bank “is willing to finance the project,” he said after Ethiopian Prime Minister Hailemariam Desalegn met Brazilian President Dilma Rousseff. “The technical side has been finalized, it’s only the financing part; it’s a matter of the details.” Construction will begin “soon,” he said.

EXIM Bank of China concluded a loan agreement worth nearly USD 3 billion for a railway project extending from Addis Ababa to the port of Doraleh in Dji…

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