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Ethiopia gets $300 million loan from Exim bank of India

Tigrai Online - June 15, 2013

The Export-Import Bank of India has approved a $300 million worth of line of credit to Ethiopia, paving the way for construction of a railway line linking this landlocked country in the Horn of Africa to a port city in neighboring Djibouti.

An agreement in this regard was signed between T.C.A. Ranganathan, chairman and managing director of Exim Bank, and Ahmed Shide Mehamed, Ethiopian State Minister of Finance and Economic Development (MoFED), in New Delhi Thursday.

Ethiopia is planning to build an extensive railway network throughout the country.

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