Ministry of Finance and Economic Development of Ethiopia (MOFED)

Ministry of Finance and Economic Development of Ethiopia (MOFED)

Ministry of Finance and Economic Development of Ethiopia (MOFED) signs a credit facility agreement worth 50 million Euros (approximately 1.07 billion Birr) with French Development Agency on Thursday, April 16, 2015 at its office.

The agreement was signed targeting financial and technical assistance for Bus Rapid Transit (BRT) B2 pilot corridor, an integral part of the Addis Ababa City Administration (AACA) long term public transportation networking connecting in a short term Light Rail Way Transit (LRT), Bus Rapid Transit (BRT), regular bus lines and in a long term, subway.

At the signing ceremony H.E Ato Ahemed Shide said “the project helps to build and operate the first pilot lane of BRT on a segregated corridor running from Wingate to Gofa Gebriel and mixed traffic from Gofa Gebreil to Jemo, within the framework it’s multimodal and integrated transportation system”.

As a final recipient of the facility, Addis Ababa City Administration will implement the project. And Addis Ababa Transport Bureau (AARTB) acts as an implementing Agency.