Ethiopia signed loan agreements with The Republic of Korea today at the FDRE ministry of finance.
The loan Agreements were signed by Ato Ahmed Shide, Minister of Finance and Mr. Shin Deog-Yong, Senior Excutive Director, EXIM Bank of Korea.
The Loan agreement amounting to US$ 264 Million USD.
On the event Ato Ahmed Shide states that the first agreement is to finance Southern extension of the National Electricity Grid power transmit ion project, and the second agreement is to finance ground water irrigation and rural development .
On his part Mr. Shin Deog-Yong said, Ethiopia is one of the most important partner countries for Korea and it leads the development of Africa based on its development potential and strong governance.
According to Yong this agreement will serve as the momentum for the enhanced mutual cooperation between the two countries.
By Meareg G/egziabher
