This announcement was made at the conclusion of a high-level bilateral meeting between the Governor of the National Bank of Ethiopia, Eyob Tekalign, and the Governor of the People’s Bank of China (PBOC), Pan Gongsheng. During the discussion, Governor Eyob Tekalign provided detailed information regarding Ethiopia’s ongoing debt restructuring process under the G20 Common Framework. Both parties expressed a strong interest in establishing bilateral currency swap lines and trade finance facilities to streamline commercial activities. Governor Eyob noted that Ethiopia has a significant opportunity to increase its Renminbi (RMB) reserves by utilizing revenue generated from Ethiopian Airlines and other key export sectors. Pan Gongsheng expressed readiness to support Ethiopian financial institutions in participating in China’s Cross-Border Interbank Payment System (CIPS) and to expand China UnionPay services in Ethiopia.

Source: Ethiopian News April 02, 2026 20:14 UTC