India pledges 640 million dollar loan to Ethiopia

By Tesfa-alem Tekle

December7, 2007 (ADDIS ABABA) — India ambassador to Ethiopia said, India, over the next 5 years will grant 640million dollar loan to Ethiopia.

The pledge comes after, Indian parliament approves 122 million dollar loan to Ethiopia to help Ethiopia’s sugar industry.

According to ambassador Gurgit sing the aid offered to Ethiopia is the biggest, India has ever offered to any other country on loan bases.

India will also double the scholarship and technical trainings it gives to Ethiopia the Ambassador added.

Information communication technology tele-medicine and tele-education projects which are first in type in Africa, according to Ambassador Sing, are currently run under the assistance of Indian government.

Currently different Indian firms are running investment on total sum of 464 million dollar across the nation. The embassy of India is working hand in hand with Ethiopian government to create favorable ground for more Indian firms to invest in Ethiopia.

Diplomatic ties of Ethiopia and India dates back to decades ago and in the near future both are expected to celebrate their 60th anniversary.

(ST)