The European Union (EU) has pledged €540 million to boost road construction in Ethiopia especially in rural areas for the next five years.
Antonio Capone, the infrastructure leader of EU delegation, announced that the money will be used to continue what he referred to as “a remarkable expansion of road network in Ethiopia.” The country had 26,000 km of roads in 1997 but as of last year it had 100,000 km.
“The condition of road network has improved substantially. The proportion of road network in good condition increased from 22% in 1997 to 70% in 2014,” he said.
Capone said since 1997 the EU has invested €400m in road improvements in Ethiopia currently experiencing high economic growth.
Addis Ababa Road Authority seeks to construct additional 917 kilometers of roads in the current fiscal year., according, General Manager of the authority.
The second most populous nation in Africa has continued to grow at a rate of 10.8% a move that has attracted investors of all kinds.
Ethiopia’s economic reforms since 1990 have set it to an economic growth path. Today in Addis Ababa, evidence of booming real estate and other construction activities is clear.
