Kuwait to finance $22m water project in Ethiopia
by Paromita Dey on Jun 17, 2015
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Ethiopia and Kuwait on Monday (15 June, 2015) signed a $22m loan agreement to fund a clean and sustainable water project in Aksum in northern Ethiopia.
The project aims at providing clean and sustainable water supply to Aksum and its nearby villages till 2050, through the construction of a water supply and treatment system from Maychew River, about 30km south of the town, according to Saudi Press Agency.
The government of Kuwait has been assisting Ethiopia’s development endeavour by providing financial support for the implementation of infrastructure projects including road, airport, energy and water supply which are the major priority sectors of the African country’s government.
Major components of the project include construction of a dam, reservoir, and water treatment plant, supply of generators, transformers, pumps and upgrading of the existing road leading to the dam site.
Ethiopia and Kuwait started a formal cooperation through avoidance of double taxation, investment protection, and trade and science eight years ago.
Four ongoing projects with a total allocation of around $110m are currently being supported by the Kuwaiti government, Ahmed Shide Ethiopia’s state minister of finance said after signing the agreement.