Japan to provide loan for geothermal power, other projects: Ambassador

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Addis Ababa, 28 August 2014 (WIC) -Japan has plans to provide loan for Aluto-Langano Geothermal Power Plant and other power generation projects.

According to Ambassador Markos Tekle, Ethiopia’s Ambassador to Japan, the Japanese government used to largely extend aid to Ethiopia in the forms of assistance and technical support.

This has now changed as the country has been registering rapid economic growth and its ability to refurbish loans is strengthened, he said, adding that as a result Japan has plans to extend loan to Ethiopia so that it could complete different projects.

Among the projects that would benefit from the loan are the Aluto-Langano Geothermal Power Plant and other hydro-power projects, the ambassador added.

Ambassador Markos further stated that the Japanese government is also willing to give additional loan to other projects based on the request of the Ethiopian government.

Trade and investment tie between the two countries has been growing as the relationship between the two countries has been strengthening, he noted.

Following the visit of the Japanese Prime Minister Shinzo Abe to Ethiopia, the interest of Japanese investors to engage in the Ethiopia market has grown, according to the ambassador.

Because of the increasing desire of Japanese investors to do business in Ethiopia, the Ethiopian Embassy in Tokyo has been organizing exhibitions and seminars to attract big Japanese companies, Markos stated.

Japanese, through Kaizen institute, are also providing support for the improvement of product and productivity in Ethiopia and to make the country's industrial policy better, the ambassador added.

At present, 24 Ethiopian students have completed their education in Japanese universities and are doing internship in various companies, it was indicated.

Bilateral Cooperation Director with the Ministry of Finance and Economic Development (MoFED) Kokeb Misrak for his part said Japanese developmental assistance for

Ethiopia through Japan International Cooperation Agency (JICA) has been growing from time to time.

Infrastructural development, agriculture and rural development works as well as education are among the sectors that have been supported by JICA, he explained. (EH)