Indian ECA supports Ethiopian projects

(Nazret.com, Washington, 8 September 2008) Indian companies organized as the Chadha Group are to invest on sugarcane plantation, and sugar, paper and ethanol production in Ethiopia with a total capital of 190 million dollars. Apart from soft loans from India amounting to US$700 million in the last 2 years a new trend is emerging from India for financing various projects in Ethiopia. In the last 6 months various Indian companies received supplier credits amounting to US$100 million through Indian commercial banks supported by the Export Credit Guarantee Corporation of India (ECGC), to execute electricity projects in Ethiopia.