Govt. sanctions 288.23 million dollars aid to Ethiopia » Ethiopian News

Govt. sanctions 288.23 million dollars aid to Ethiopia

August 26 Posted by: Bini | 26-08-2010, 02:37 |

New Delhi, Aug.25 (ANI): The Government of India has sanctioned two tranches of 122 million dollars and 166.23 million dollars respectively in response to a request of the Government of Ethiopia for the extension of a Line of Credit of 640 million dollars for the development of the country's sugar sector.

The Minister of State for External Affairs Preneet Kaur informed this in the Lok Sabha today and added: "The guidelines of the Lines of Credit stipulate inter-alia that the projects undertaken by utilizing them have to be executed by the Indian companies."

Govt. sanctions 288.23 million dollars aid to Ethiopia

Govt. sanctions 288.23 million dollars aid to Ethiopia

The Minister informed that in keeping with this stipulation, the Government of Ethiopia has appointed Indian parties, including as engineering, procurement and construction (EPC) contractors, for undertaking the projects.

"Some complaints have been received including in respect of an EPC contractor. Certain Indian parties have also approached Indian Courts and the matter remains sub-judice," Kaur further said.

(ANI) Source: oneindia.in

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