Monday, October 23, 2023

China Reviews $1.3 Billion in Loans for Ethiopia

 The Addis Standard published on 21 October 2023 an article titled "Ethiopian Authorities Discuss Release of $1.3 Billion Suspended Loan with Chinese Counterparts."

Chinese financial institutions have suspended the disbursement of loans totaling $1.3 billion for at least 8 infrastructure projects pending renegotiation of Ethiopia's debt restructuring with the Chinese government.  Chinese banks did not disburse any loans to Ethiopia in 2021 and 2022 and only $26 million so far in 2023.  The Ethiopian government seems optimistic that Chinese banks will release more of the funding.