In its regular session, the House of Peoples’ Representatives (HPR) approved two key loan agreements through proclamations, securing funding that is highly significant for Ethiopia’s national structural transition and sectoral development.

The House first reviewed a €70 million loan agreement signed between the governments of Ethiopia and Italy. This long-term, highly concessional soft loan is completely free of interest and service charges, featuring a 16-year grace period and a total repayment timeline of 30 years. Officials noted that the loan will directly fund government budget support and help execute Ethiopia’s ongoing macroeconomic reforms. Following a thorough review, the House unanimously approved the draft as Proclamation No. 1438/2018.

Similarly, the HPR reviewed and approved a €56.6 million loan agreement secured from the French government to modernize the service delivery of Ethiopian Electric Power (EEP). This long-term loan features a 10-year grace period and is to be repaid over 25 years, with the primary objective of digitalizing the nation's power command control and resource management systems.

During parliamentary discussions, representatives highlighted that the French loan will enable EEP to increase the efficiency of electricity transmission lines and substations using modern technology, strengthen maintenance operations, and build reliable power control centers. The House subsequently approved this draft unanimously as Proclamation No. 1439/2018.

During the session, it was emphasized that securing these major loan agreements practically demonstrates the growing strength, depth, and progress of Ethiopia’s international diplomatic relations.