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Eritrea and African Development Bank sign agreements to finance two USD 41 million projects

Eritrea and the African Development Bank have signed agreements to finance two major USD 41 million projects on skill development, drought resilience and sustainable livelihood program.

 

Asmara, 08 May 2015 –Eritrea and the African Development Bank have signed agreements to finance two major USD 41 million projects on skill development, drought resilience and sustainable livelihood program.

The Minister of Finance, Mr. Berhane Habtemariam, and Mr. Gebriel Negatu, Regional Director of the African Development Bank, signed the agreement. 50% of the amount is in development assistance to Eritrea and the remaining 50% in the form of interest-free loan, according to the AFDB Regional Director.

The Nairobi-based regional African Development Bank groups 13 countries, including Eritrea.

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