Ethiopia and Korea Exim bank have signed two concessional loan agreements amounting to 264 million US dollars.
The first loan, amounting to170 million USD, will be used for the southern extension of the national electricity grid power transmission project.
The second one, worth 94 million USD, will be used to fund ground water irrigation and rural development project.
Ethiopia and Korea have decades of strong economic and social ties that extended to various sectors of the overall developments mainly in Ethiopia.