Ethiopia signs $201mln loan agreement with Danish government

Addis Ababa, May 24, 2018 (FBC) –Ethiopia has signed a loan agreement amounting 201 million US dollars with the government of Denmark.

It is the first agreement for Danish government to give support in the form of loan to Ethiopia through its organization, DANIDA.

According to a press release issued by the Ministry of Finance and Economic Cooperation (MoFEC), the loan will be used to finance the Assela Wind Farm project.

The project is contributing a lot to Ethiopia’s target of increasing renewable energy generation capacity and access to electricity, the release added.

Admasu Nebebe, State Minister of MoFEC, and Mrs Mette Thygesen, Ambassador of Denmark to Ethiopia, signed the agreement today on behalf of their governments, respectively.