Ethiopia’s ambassador to China, Tefera Derbew engaged in a productive discussion with Yu Zhuorui, Vice President of the China-Africa Development Fund (CAD).
They addressed various mutual cooperation opportunities and concerns shared by both countries.
The Ambassador emphasized the necessity of strengthening existing partnerships and diversifying investments, particularly focusing on projects such as the new international airport and highlighted recent developments from Ethio-telecom and Ethiopian Investment Holding Groups.
He outlined the economic development trajectory of Ethiopia and invited CAD Fund to explore investment opportunities within the nation.
Yu Zhuorui, on his part expressed gratitude to the Ambassador for facilitating the meeting, noting that it would enhance the bilateral relations between the two countries.
The Vice President underscored the importance of joint consultations to foster shared development cooperation and explore new avenues for collaboration, expressing interest in participating in the new airport project.
He revealed that representatives have been assigned to the branch office of CAD Fund in Addis Ababa.
In conclusion, Ambassador Tefera assured that the government would extend all necessary support to the newly deployed staff of the China-Africa Development Fund.
China-Africa Development Fund was established in 2006 as one of the eight policy measures proposed by the Chinese government during the Beijing Summit of the Forum on China-Africa Cooperation to promote practical cooperation between China and African countries.
Its objective is to support and encourage Chinese companies to invest in Africa. With the initial scale set to be 5 billion USD, the fund was organized by CDB and started operation in June 2007.
Source: ENA
