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China has agreed to restructure some of Ethiopia’s loans, including a loan for a $4 billion railway linking its capital Addis Ababa with neighbouring Djibouti, Ethiopia’s Prime Minister Abiy Ahmed said on Thursday.
“During our stay, we had the opportunity to enact limited restructuring of some of our loans. In particular, the loan for the Addis Ababa-Djibouti railway which was meant to be paid over 10 years has now been extended to 30 years. Its maturity period has also been extended,” Abiy told reporters in the Ethiopian capital Addis Ababa, upon return from a summit in China.
