MEDaC Announces over 4.7 Billion USD Capital Financial Expenditure Execution

The Ministry of Economic Development and Cooperation (MEDaC) announces a financial execution amounting to more than 4 billion 749 million US dollars into various development projects over the past ten years in Ethiopia. 

MEDAC told ENA that the reported amount of capital budget was part of the seven billion US dollars obtained through various grant and loan cooperation agreements from bilateral and multilateral sources. 

According to the ministry, 2 billion 416 million US dollars from 19 countries in Europe, America and Asia, as well as 4 billion 669 million 500 thousand US dollars from international multilateral donors had been secured in grants and loans. 

It said U.S.A., Japan, Italy, Sweden and the Netherlands are among the countries that contributed the lion's share of Ethiopia's capital expenditure.

 The multilateral sources include, UNDP, ADB, IFAD, OPEC, EU and other UN agencies.

 The capital projects that have already been implemented or those under implementation concentrate on works in the areas of agriculture, roads, education, health, electric power, food security and telecommunications, the ministry said.

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