New road development in Ethiopia

Key highway developments are improving connectivity for Ethiopia. The African Development Bank (AfDB) will finance part of the Mojo-Hawassa express highway project. The 209km highway will be constructed in two phases over a five year period, with extra funding coming from South Korea Exim Bank and the government of Ethiopia. Under the first phase, 93km of road will be constructed and the AfDB approved a $126 million package of funding for this Mojo-Meki section. Some $2.44 million is being provided by the
Finance & Funding / December 9, 2013
Key highway developments are improving connectivity for Ethiopia. The 1586 African Development Bank (AfDB) will finance part of the Mojo-Hawassa express highway project. The 209km highway will be constructed in two phases over a five year period, with extra funding coming from South Korea Exim Bank and the government of Ethiopia.

Under the first phase, 93km of road will be constructed and the AfDB approved a $126 million package of funding for this Mojo-Meki section. Some $2.44 million is being provided by the bank to help the Ethiopian Road Authority (ERA) in a construction capacity. A further $99.1 million will be provided by the Ethiopian Government to fund resettlement compensation, local taxes, costs and other expenses. Some $349.51mn will be invested in the section between Mojo and Zeway (Batu). The second section that stretches over 37 km between Meki and Zeway will be funded using $ 22 million from the government and a $100 million loan.
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