Ethiopia, Kuwait sign $21.6 mln loan assistance

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Ethiopia and Kuwait signed a KWD 6.5 million (USD 21.6 million) loan agreement to fund a water project that will provide clean water to the historic town of Aksum in Northern Ethiopia. The project, intended to last until 2043, will be a sustainable water supply source to the city of Aksum and its surroundings. The water will be pumped from Maychew River, about 30km South of Aksum, and will be refined at a treatment plant before distribution.  .
The project will feature the construction of a dam, a reservoir, a water treatment plant, generators, transformers and pumps, and the upgrading of existing roads leading to the dam site.
Ethiopia’s State Minister for Finance and Economic Development Ahmed Shide said Kuwait has been assisting Ethiopia’s development endeavors in road, airport, energy and water projects. Currently, Kuwait is supporting four ongoing projects providing USD 110 million in financial assistance.
The agreement, Ahmed said, “is a clear testimony of our strong partnership in the area of improving and expanding the access to water supply in the country.”
Deputy Director General of the Kuwait Fund for Arab Economic Development Hamad S. Al-Omar said the population residing in Aksum and its surroundings will benefit from the  water project, which facilitates  access to clean drinking water.
ENA