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Ethiopia's gets $1.2 billion loan for the Grand Ethiopian Renaissance from China

Tigrai Online April 25, 2013

Ethiopia's gets $1.2 billion loan for the Grand Ethiopian Renaissance
Ethiopia secured a US$1 billion (S$1.2 billion) loan from China on Friday to build transmission lines linking its capital Addis Ababa with Africa's biggest hydropower dam

Ethiopia secured a US$1 billion (S$1.2 billion) loan from China on Friday to build transmission lines linking its capital Addis Ababa with Africa's biggest hydropower dam being built on the Nile.

Ethiopia wants to become one of the world's leading power exporters and plans to invest more than US$12 billion to harness energy from the rivers running off its rugged highlands. It aims to generate over 40,000 MW of hydropower in the next two decades.

Source: Straits Times - http://www.straitstimes.com/breaking-news/money/story/china-lends-ethiopia-s12-bln-mega-dam-power-lines-20130427

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