Ethiopia is to invest $7bn in new infrastructure and power supply projects, amid plans by the country’s central government to boos economic growth and investment.
Dr. Teshome Tafese, Director General of Ethiopia’s Public-Private Partnerships Office, said the investment will include three road and thirteen power projects to be launched this fiscal year, after the tendering processes have been completed.
The three projects in the transportation sector are all understood to be expressways. They include a 125km road from Adama to Awash, a 72km continuation from Awash to Maeso, and a 160km road that will run from Maeso to Dire Dawa. Construction is expected to commence this year, with the tender for projects to be announced soon.
A proclamation drafted by the Ministry for Finance and Economic Cooperation to oversee public-private partnership over financing infrastructure and utilities was legislated by the parliament last year.
The news comes as the World Bank approved a $1.2bn grant from the International Development Association (IDA) to help accelerate the country’s economic growth and achieve its vision of becoming a lower-middle income country.