Ethiopian prime minister Abiy Ahmed, has confirmed that the Chinese government will restructure its $ 4 billion railway loan. The railway loan was for the construction of an international line linking Ethiopia’s capital Addis Ababa to the neighboring city of Djibouti.
According to the premier, the loan which was supposed to be paid over 10 year has been extended to 30 years, with its maturity period also extended.
Abiy said all this was agreed upon during their stay, in the recently concluded Africa China summit which also gave them the opportunity to enact limited restructuring of other loans.
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