It said that Chinese investment in Ethiopia country was cooling and that the China Export and Credit Insurance Corp was reducing the scale of its investment there. Ethiopian Central Bank Governor Yinager Dessie told Reuters in July that the government hopes to reduce its debt with China, which he said holds most of Ethiopia's bilateral foreign debt. China's Exim Bank and the China Communications Construction Company did not respond to faxed requests for comment. "ExIm has become more risk-averse for new projects," said Yunnan Chen, a researcher at the China Africa Research Initiative at SAIS. "These breakthroughs are a part of FOCAC where the publicity of the event makes it a good opportunity for African countries like Ethiopia to get pledges from China."

Source: Ethiopian News September 01, 2018 19:52 UTC