China has agreed to restructure some of Ethiopia’s loans, including a loan for a $4 billion railway linking its capital Addis Ababa with neighbouring Djibouti, Ethiopia’s Prime Minister Abiy Ahmed said on Thursday. In particular, the loan for the Addis Ababa-Djibouti railway which was meant to be paid over 10 years has now been extended to 30 years. Whiles in China where he joined other African leaders for the Forum on China – Africa Cooperation, FOCAC, Abiy and his team held several high-level meetings with officials. He met with President Xi Jinping, his counterpart Prime Minister and also with the China EXIM bank. They agreed to look into restructuring of Ethiopia’s loans.

Source: Ethiopian News September 07, 2018 08:15 UTC