This archive report was first published on 7 August 2019.
On August 7, 2019, the African Development Bank (AfDB) approved a $98 million financial package for Ethiopia's road transport corridor project to neighboring Djibouti.
The project, with a total cost of $255 million, will see the AfDB grant $98 million to Ethiopia's government and $5.3 million to Djibouti's government, while Ethiopia's government will contribute $151 million through co-financing.
According to the AfDB, the project aims to enhance trade by reducing transport costs, thereby accelerating economic growth in Ethiopia and Djibouti, as it is part of the main import-export corridor.
