China Exim Bank Upholds Supporting Development Projects in Ethiopia

Addis Ababa September 02/2018 The Export–Import Bank of China (EXIM Bank) said that it will continue to support the development activities in Ethiopia. Prime Minister Abiy Ahmed, who is in Beijing to attend the Forum on China- Africa Cooperation (FOCAC), has conferred with various leaders and representatives of international organizations. The Prime Minister has held discussions today with the Export and Import Bank of China (EXIM Bank) Chairperson, Hu Xiaolian. Following the discussion Bank Chairperson, Hu Xiaolian said the bank will maintain its support for key development projects in Ethiopia. She expressed that the bank will further strengthen its support to expedite Ethiopia’s development endeavors, according to Governor of the National Bank of Ethiopia, Yinager Dessie who attended the meeting. He reminded the vast involvement of China Exim Bank in the development efforts of Ethiopia, and he further indicated that the bank confirmed to provide loans to more than 45 projects. During the meeting both sides have discussed focusing on concessional loan and interest issues and put direction to work together in the future. Meanwhile, Prime Minister Abiy Ahmed met Somalia President Mohamed Abdullahi Mohamed and exchanged views on wide range of bilateral ties and common regional issues. In related news, China and Africa ministerial meeting is underway in Beijing as part of the Forum on China-Africa Cooperation. The forum will be held from September 3 to 4 under the theme of “China and Africa: Toward an Even Stronger Community with Shared Future through Win-Win Cooperation”. China’s Exim Bank focuses on national economic cooperation and financed projects in about 50 African countries since it started operations in the continent in 1996.