China gives loans to Ethiopia's first expressway

created: 2009-11-10

China on Sunday signed a 349-million-U.S. dollar loan agreement with Ethiopia to help build the country's first expressway.

The 79-km expressway will link Ethiopia's capital Addis Ababa with the country's second largest city of Nazeret. It will have a 12-meter width and is expected to make easy traffic flow in the area.

Under the agreement, the Export-Import Bank of China will provide loans to the expressway, which will be built by China Road and Bridge Corporation.

Construction of the road will be launched early 2010 and is expected to be completed in 2014.

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