South Korea approves $80 million loan to Ethiopia for power projectJune 6th, 2012
It was reported last week that the Ethiopian government has been able to allocate electricity coverage to about half the nation. The government’s goal is to aim for three quarters of the country by the year 2015.
Ethiopia is in the midst of a multi-billion electricity investment to boost its generation capacity within the next few years. Electricity in rural villages and towns has soared to 47 percent from eight percent in 1991.
According to the Sudan Tribune, the Ethiopian Electric Power Corporation (EEPC) has announced that the South Korean government has agreed to finance the construction and expansion of the Ethiopia-Sudan electric power transmission line project, which stretches from Debremarkos to Gebreguracha to Sululuta and maintains a carrying capacity of 400 KV.
The agreement is expected to be signed sometime this week by Ethiopian Minister of Finance and Economic Development Sufian Ahmed and an official from the South Korean government. --Examiner