07 August 2019 : The Ethiopian government and the African Development Bank Group signed a grant agreement  worth $98 million in order to finance phase one of the Ethiopia–Djibouti Road Transport Corridor Project.

The partnership between the two intensifies, as the total cost of project which is $255 million will be funded partially by ( African Development Fund) ADF grants in two parts: $ 98 million to the Ethiopian government, and $5.3 million to the government of Djibouti . The remaining $151 million will be bought in by a co-financing contribution of $151 million by the government of Ethiopia

The project which is all set to commence in 2020 and will take 5 years to complete, consists of the construction of the first 60 km of a 4-lane expressway section of the new 126 km stretch from Adama to Awash and includes the design of a one-stop border post at Dewele.

The Bank’s mission is to boost regional integration and connectivity in the land locked country and provide access to seaports.

How does the project help the economy ?

The project is expected to enhance trade by significantly reducing transport costs, thereby accelerating the economic growth of Ethiopia and its neighbour Djibouti, as it is part of the main import-export corridor.

The expressway is expected to improve access to markets for farmers and rural communities. Other beneficiaries include some 3,000 truck-drivers who work the 900 km between Djibouti and Addis Ababa, and youths, who will receive over 95% of the job opportunities during the construction phase.

Reporting for EasyKobo on Wednesday , 07 August 2019 in Lagos, Nigeria