Gov't Has Utilized All Funds of AfDB Very Well: AfDB Official Featured

12 Sep 2017
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Addis Ababa September 12/2017 The government of Ethiopia has utilized very well all the funds it obtained from African Development Bank (AfDB), Official of the bank said.

A high-level delegation of the African Development Bank (AfDB), led by East African Constituency and Board of Director of AfDB Nyamajeje Calleb Weggoro, has visited Addis Ababa-Nairobi-Mombasa Road Project, Alaba power station, Mojo-Hawassa Expressway.

In a press conference he held today, Weggoro said the visit was to inspect the progress of AfDB funded projects in Ethiopia, particularly in transport and energy sectors.

During the visit to Addis Ababa-Nairobi-Mombasa Road Project “we have observed substantial progress which has been made specially the 300 km phase from Agaremariam to Moyale.”

According to him, some 80 percent of the Addis Ababa-Nairobi-Mombasa road project on the Ethiopia side is completed, while Kenyan side has finalized its share.

Ethiopia is expected to complete the remaining part of the project by the end of 2018, which will fully connect Ethiopia to Eastern Africa through Kenya, Weggoro stated.

Commenting on the countrywide electricity transmission and substation systems improvement project, he said it is crucial to provide energy for industrial parks and community.

The current portfolio of the bank investments is about 1.6 billion USD and comprises of the 22 operations in Ethiopia, of which the transport sector has the largest share.

Of the total amount, the transport takes 33 percent, social sector 16 percent, water and private sectors 11 and 16 percent respectively, it was indicated.

He stated that the complete projects and those nearing completion are having great socio-economic impact on the country economy. 

The African Development Bank has invested 4.6 billion USD in areas of transport, energy, agriculture, social sector, among others, since 1975.

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