A loan agreement amounting €117.3 million has been signed between Ethiopia and the Danske Bank A/S for the 100-MW Assela wind farm project. The agreement was sign by Ahmed Shide, Ethiopia’s Minister of Finance and Mr. Jelsper B. Petterson and Olaf S. Mark schet, Director and Associate Director of Danske Bank A/S, respectively, according to a statement by the Ministry of Finance.
The total contracting amount of the project is €146 million, of which €117 million loan will be covered by the Danske Bank A/S, according to a statement issued by the Ministry of Finance.
The Danida Business Fund (DBF), administered by the Investment Fund for Development Countries on behalf of the Government of Denmark, committed to contribute €28.70 million cash grant for the project.
The financial support for the project is part of the Danish development assistance to Ethiopia, the statement added.
Source: AE Africa