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Home >> Business
UPDATED: 11:35, June 01, 2007
World Bank approves 225 million dollars in credit to Ethiopia
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The World Bank approved 225 million U.S. dollars of credit to Ethiopia Thursday to help the African Horn country restore its road network and reduce poverty.

Ethiopia will use the fund to improve the reliability of its road transport infrastructure by expanding and maintaining the road network, and strengthening the quality and efficiency of road construction, management and maintenance, said the bank in a statement.

The project will also create conditions conducive for the domestic construction industry to develop in the road transport sector.

"The emphasis will be on facilitating growth, in both the agriculture and industrial sectors, by improving transport corridors as well as better linking emerging regions to the rest of the mountainous country," said Yoshimichi Kawasumi, World Bank task team leader for the project.

The Ethiopian government has set a target to construct almost 11,000 km of new federal roads and 5,500 km of new regional roads, while maintaining over 4,000 km of federal and regional roads, according to the statement.

Source: Xinhua

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