Ethiopia Inks Five Agreements with China and $1.8bln Investment Agreement

Prime Minister Abiy Ahmed met yesterday with Prime Minister Li Keqiang to discuss the further strengthening of Ethiopia-China relations.

Premier Li Keqiang confirmed that China would continue to support Ethiopia’s efforts in promoting the wellbeing of its citizens and its economy.

They presided over the signing of five agreements that reflect the deepening of these relations. The agreements signed include a financing agreement for the development of a plaza and 12km of the ‘Beautifying Sheger’ river bank project, the provision of grants for technical cooperation and food aid, a Belt and Road Initiative five-year cooperation plan and an MOU operationalizing cooperation under FOCAC.

Ethiopia and China have signed a 1.8 billion US dollars investment agreement which covers the provision of electric power transmission and distribution lines.

The same day, an agreement was signed following Prime Minister Abiy Ahmed’s meeting with State Grid Corporation of China.

The project will supply power for up to 16 industrial parks; the Addis Ababa to Djibouti 2nd railway line and for different cities in the country.

The agreement will facilitate not only uninterrupted power supply but also enable the creation of jobs.