Arab bank extends 3.6 million dollar loan to Ethiopia

Mar 26, 2006 (KHARTOUM) — The Arab Bank for Economic Development in Africa (BADEA) has signed a 3.6 million dollar loan agreement with Ethiopia for financing a rural electricity project.

The signing ceremony, held at BADEA’s headquarters in Khartoum, was attended by Ethiopian Ambassador to Sudan Kadafo Hanfri and BADEA Director General Medhat Sami Lutfi.

The loan is repayable in 30 years period with 10 years grace.

(ST)