India, China to help build Ethiopia rail network
Addis Ababa, March 30: India and China will help build a railway network across Ethiopia that would significantly improve the east African nation’s transport system.
India has pledged $300 million for the national rail network construction while China’s Export and Import (EXIM) Bank has inked a deal to finance 85 percent of the cost of a light rail network in the capital city of Addis Ababa at $490 million.
The cost of the rail network across the country has been estimated at $6 billion, according to an initial estimation.