State bets on port to open Addis market
16 March 2012
Business Daily - March 13, 2012
The government is betting on improved infrastructure to lift trade with Ethiopia as concerns wane over the landlocked neighbour’s controlled economy.
Just days after commissioning the construction of Lamu Port – the first phase of the mega Kenya-Southern Sudan-Ethiopia transport corridor – the government on Monday signed another multi-billion shilling financing arrangement with African Development Bank (AfDB) to link northern Kenya with Ethiopia.
Part of the Sh21.63 billion deal signed by Treasury in Nairobi will finance the construction of a road corridor between Kenya and Ethiopia as the remaining portion goes to development of cheap geothermal electricity.