situation report

Aug 7, 2019 | 17:53 GMT

1 min read

Djibouti, Ethiopia: African Development Bank Approves $98 Million Grant for Transport Link

What Happened: The African Development Bank has approved a $98 million grant for the construction of the initial 60 kilometers of a road corridor between Ethiopia and Djibouti, Reuters reported Aug. 7.

Why It Matters: Once completed, the road will connect important regional economic hubs and establish additional supply chains in the area.

Background: Because landlocked Ethiopia's global trade relations depend on existing transport arteries to Djibouti, Addis Ababa has been seeking to increase the efficiency and redundancy of infrastructure links.

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