Ethiopia and China signed in Addis Ababa on Friday a debt relief
agreement amounting to US$18.5 million. The agreement was signed by
Mekonen Manyazewal, state minister of finance and economic
development, and China's Assistant Minister of Commerce Wang
Chao.
It was stated on the occasion that the money drawn from the debt
relief would be used to finance poverty reduction program in
Ethiopia.
After signing the agreement, Mekonen expressed appreciation to
China's commitment to support Ethiopia.
"It is important to us in that it gives us a fiscal space for
our growth and poverty reduction programs," he said.
Wang Chao, who is here on a working visit, said on his part the
debt relief would be a landmark to the growing development
cooperation between China and Ethiopia.
"Our government will also continue to encourage our Chinese
enterprises to conduct mutual beneficial cooperation with Ethiopian
enterprises," he said.
He also said the new convention center of the African Union
(AU), which is to be constructed with the help of Chinese
government, would be a new symbol of relations between China and
Ethiopia and the whole of Africa.
This second time debt relief is part of the comprehensive
package of various supports from China including project
assistance, technical cooperation, debt canceling and private
sector interactions.
(Xinhua News Agency May 26, 2007)
