Prime Minister Dr Abiy Ahmed administration has effectively negotiated relations with African and other countries including China cooperation that brought about tangible results which have been translated into unprecedented financial grants.
“Chinese confidence in the administration has also substantially grown. Chinese government has provided essential supports to the ongoing reform giving grant to Ethiopia by which it is not known so far.” Premier disclosed so on a recent press conference.
Cooperation with China has brought successes in restructuring commercial loans to concessional ones, not to mention canceling of debt interests. The Chinese government’s decision to support 12 kilometers with a central square of the project ‘Beautifying Sheger Riverside’ is also among the diplomatic successes registered since Prime Minister Dr. Abiy Ahmed has taken office.
Likewise, last September, Prime Minister Dr Abiy told reporters that China had agreed to restructure the repayment period for some of its loans from 10 to 30 years. And in February 2019, he told parliament that his government has successfully renegotiated the repayment period for 60% of its external debt.