India Exim Bank Lends Ethiopia $300 Million for Rail to Djibouti
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Export-Import Bank of India will lend $300 million to Ethiopia to help construct a railway to a planned port on the Red Sea in neighboring Djibouti.
Exim Bank will open the credit line once technical studies are completed on the 210-kilometer (130-mile) link from Asaita in northeastern Ethiopia to Tadjourah, Managing Director T.C.A. Ranganathan said in an interview yesterday in Addis Ababa.