HPR ratifies loan agreements
Addis Ababa, 6 June 2014 (WIC) - The House of Peoples Representatives (HPR) ratified on Thursday three draft bills.
The HPR, in its 36th regular meeting, endorsed the 50-million-Euro loan agreement between Ethiopia and France.
The loan would be used for the implementing the project for installation of high electric power transmission lines.
The agreement, besides enhancing the social and economic development of the country by significantly increasing electric power qualitatively and quantitatively, will hugely contribute toward achieving the power expansion and distribution goal of the Growth and Transformation Plan.
Furthermore, it would remarkably boost power supply to industrial areas and enable villages without power supply to access electricity.
The House also ratified over 20-million-Euro loan agreement for the execution of the dry waste disposal project of Addis Ababa city.
The agreement signed between Ethiopia and France would enable to construct dry waste disposal area for the city. The loan agreement will help move the over 50-year-old disposal site from Qoshe-Repi.
Similarly, the HPR approved the 208.5-million-USD loan agreement between Ethiopia and the International Development Association.
The loan would improve the program in road sector and support the organizational structure of the sector, it was indicated.
According to ENA, all the loan agreements were ratified after the House checked that they are consistent with the loan strategy of the country.
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