Ethiopia-China-Economy

China annuls Ethiopia's loan Interests

APA-Addis Ababa (Ethiopia)

Chinese president Xi Jinping has announced the cancellation of interests for loans it provided to Ethiopia until the end of 2018.

The president announcement comes on Wednesday while he held discussion with Prime Minister of Ethiopia Abiy Ahmed and his delegation in Beijing ahead of the Belt and Road Forum.

The Chinese President admired the leadership of Prime Minister Dr Abiy and the reforms he has led over the past year, noting that China holds Ethiopia’s development in high regard, according to the Office of the Prime Minister.

Furthermore, President Xi emphasized that the Chinese government attaches high importance to the beautifying Sheger project and is working on a grant assistance in its support.

Both parties agreed to a strengthened cooperation between the two countries in various sectors, according to office of the Prime Minister.

PM Dr Abiy for his part shared with the commitment of Ethiopia to deepening the Comprehensive Strategic Partnership with China, which is enabling critical moves like restructuring the debt of the Addis Ababa-Djibouti railway.

The railway project is an early harvest of the Belt and Road Initiative that Ethiopia is part of.

In addition to a common understanding on global, regional cooperation and bilateral issues, PM Dr Abiy also expressed his concern on the detainment of the young female engineer Nazrawit Abera.

Prime Minister Dr Abiy arrived in China on Tuesday to attend the second Belt and Road Forum for International Cooperation (BRF), which will be held on April 25-27 in Beijing.

This year’s forum will be held under the theme “Belt and Road Cooperation: Shaping a Brighter Shared Future.”

The forum events include leaders’ round-table, high-level meeting, thematic forums, CEO conference and other side events.

Representatives from over 100 countries, including 40 leaders of foreign governments have confirmed their attendance.

The first Belt and Road forum was held in 2017.


MG/as/APA

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