China Reschedules Railway Debt Repayment Period




China extended the debt repayment period for Ethio-Djibouti Railway from 10 to 30 years, according to Prime Minister Abiy Ahmed (PhD).

Ethiopia, having received a huge number of loans and investment from China, held extensive discussions on ways of balancing the trade volume.

On the Prime Minister’s visit to Beijing’s Seventh Forum on China-Africa Cooperation, the two sides agreed on extending loan repayment, revising interest rates, increasing export products to China, expanding the destinations for Ethiopian Airlines and identifying options that enable a shift from loans to development assistance.

China also pledged to extend new funding worth 60 billion dollars to Africa, aimed at supporting “inclusive” development.

China also announced that it would cancel a substantial amount of debts from certain African countries when interest-free loans come due later this year



Published on Sep 08,2018 [ Vol 19 ,No 958]


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