China Cancels Interest On All Loans Accumulated until the End Of 2018

china ethPrime Minister Abiy arrived in China yesterday to attend the second Belt and Road Forum for International Cooperation (BRF), which will be held on April 25-27 in Beijing under the theme “Belt and Road Cooperation: Shaping a Brighter Shared Future.”

The forum events include leaders’ round-table, high-level meeting, thematic forums, CEO conference and other side events. Representatives from over 100 countries, including 40 leaders of foreign governments have confirmed their attendance.

Prime Minister Abiy Ahmed and his delegation met with Chinese President Xi Jinping ahead of the Belt and Road Forum.

The Chinese President admired the leadership of Prime Minister Abiy and the reforms he has led over the past year, noting that China holds Ethiopia’s development in high regard. He also announced the cancellation of interest on all loans accumulated until the end of 2018.

Furthermore, President Xi emphasized that the Chinese government attaches high importance to the beautifying Sheger project and is working on a grant assistance in its support.

Both parties agreed to a strengthened cooperation between the two countries in various sectors.

In a related development, the Prime Minister met with the leadership of the China Railway Construction Corporation (CRCC) in Beijing yesterday.

CRCC’s current largest engagement includes connecting Ethiopia and Djibouti through the railway project. CRCC has expressed interest in investing in agro-industry parks development, oil and gas development, and the beautifying Sheger river project.