Ethiopia: China Agrees to Extend Debt Repayment Period

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Prime Minister Abiy Ahmed announced that China agreed to lengthen the debt repayment period for Addis Ababa-Djibouti cross-border railway. Ethiopia and China held thorough discussions on ways of harmonizing the trade volume between the two countries. In addition, China and Ethiopia agreed on interest rates. They also agreed on finding options which facilitate the shift from loan to development assistance.

The Premier had a bilateral discussion with Chinese officials. He stated, “During our stay in China, we have got a chance to make some adjustment on some types of loans, especially an opportunity was gained on the Addis Ababa-Djibouti railway. We conducted wide ranges of discussions with China especially how can we balance the trade volume between the two counties and increase our export products to China through expanding the destination for Ethiopian Airlines.”

Dr. Abiy said his trip to China was successful and productive. He indicated that Ethiopia was also invited for an official visit to China.

According to the Premier, during the FOCAC, Ethiopia held successful bilateral discussions with different countries and international organizations including China.

Source: Ethiopian News Agency

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