Monday, December 31, 2007

China´s largest project in Ethiopia going well

Ethiopia has become one of China's biggest cooperative partners in Africa since last year's China-Africa summit. A zero-tariff policy has greatly increased Ethiopia's exports to China and an agriculture demonstration center is being set up in the country. Ethiopia's first overpass construction project using an interest-free loan from China is also going smoothly.

The Gotera overpass is China's largest project in Ethiopia. It will be the country's first ever overpass. Total investment in the massive project has reached 85 million yuan.

The overpass is at a traffic hub in the Gotera district of the capital city, Addis Abeba. It will connect the airport, the Djibouti port and the headquarters of the African Union. The four trunk road is over eight kilometers long, and is expected to be put into use in the second half of next year.

Lin Lin, Chinese ambassador to Ethiopia, said "At last year's summit, China pledged eight policy measures to assist construction projects in African countries including debt reduction, tariff cuts and increasing aid and investment, as well as increasing aid. Ethiopia is the major beneficiary of these policies."

The overpass project is a landmark of Chinese aid project in Ethiopia following the China-Africa summit. It's expected to have a far reaching impact on cooperation between the two countries in the future.

No comments: