Ethiopia, Arab bank sign 6.5m-dollar loan agreement

Nov 19, 2005 (ADDIS ABABA) — The Arab Bank for Economic Development in Africa (BADEA) and the Ethiopian government signed a 6.5m-dollar loan agreement in Khartoum, Sudan, on Wednesday 16 November, the Ministry of Foreign Affairs said.

The ministry said, quoting the Ethiopian embassy to the Sudan, that the loan would be used for the execution of the Asosa-Kurmuk [in western Ethiopia] road project.

According to a statement the ministry sent to the official news agency ENA , Ambassador Kadafo Mohamed Hanfare and BADEA Director Medhat Sami Lotfy signed the agreement on behalf of the two sides.

(ENA)