Road from Ethiopia to Mombasa receives funding
9 July 2009
A project to link Addis Ababa in Ethiopia to Mombasa in Kenya has received funding.
The African Development Bank (AfDB) has approved a $326.5 million (£202.7 million) loan to finance the second phase of the road development.
It will stretch between the two locations for 272 kilometres and the bank asserted in a statement the improved infrastructure will bring a number of benefits.
Transport and shipping costs will be cut, while trade and regional integration will be promoted, said the AfDB.
Representatives from the bank commented: "The project aims at improving transportation between Kenya and Ethiopia for the benefit of both countries and the region."
As well as trying to reduce poverty and improve living conditions, the AfDB also aims to mobilise resources for the continent's economic and social development.
Non-regional countries that are members of the group and help support its activities include Brazil, China, France, Germany, India, Japan, Saudi Arabia, Spain, USA and the UK.