Ethiopia is to invest US$7bn in new infrastructure and power supply projects, amid plans by the country’s central government to boost economic growth and investment.
Dr Teshome Tafese, director-general of Ethiopia’s Public-Private Partnerships Office, said the investment will include three road and 13 power projects to be launched this fiscal year, after the tendering processes have been completed, according to the Ethiopia Embassy UK.
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, according to publication AllAfrica. Construction is expected to commence this year, with the tender for the projects to be announced soon.
A proclamation drafted by the Ministry of Finance & Economic Cooperation to oversee public-private partnerships 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.