The State Grid Corporation of China (SGCC) is set to invest $1.8 billion in Ethiopia’s electric power transmission and distribution lines. In Beijing Prime Minister Abiy Ahmed has also met with the China Export and Credit Insurance Corporation (Sinosure). During his meeting with President Xi Jinping of China, Prime Minister Abiy has also discussed on the restructuring of Chinese debt. Reports coming from Beijing show that China has agreed to cancel all interest accumulated from its debt – estimated b/n $12 billion to $20 billion. CRCC’s current largest engagement includes connecting Ethiopia and Djibouti through the railway project.
Source: Ethiopian News April 24, 2019 11:37 UTC