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Ethiopia: Israel to Finance Wolkayit Sugar Project

2014-02-04 07:09:32| Sugar Industry News

An Israel construction company, Natifa, secured a loan to be used to finance the Wolkayit Sugar development project from an Israeli bank. Reliable sources told The Reporter that Natifa has been negotiating with Israeli banks that could finance the Wolkayit Sugar factory that the Ethiopian Government planned to build in the Tigrai Regional State. Sources said that Natifa secured more than 100 million dollars loan for the project from an Israeli bank. Natifa is working with a local construction company, Yemane Girmay Construction. The public relations department of the Ethiopian Sugar Corporation said it is not aware of the said loan agreement. However, sources said that a loan agreement will be signed by the governments of Israel and Ethiopia in the near future.

Tags: project finance israel sugar

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