The Ethiopian government has closed a $865 million financing package that will finance the nation’s railway infrastructure. Credit Suisse acted as co-ordinating commercial facility arranger and export credit agency facility lead arranger. The agreement will finance the construction of the 389km electrified standard-gauge line from Awash on the Addis Ababa – Djibouti line to Weldia in the north of the country.
“This is a huge financing for Ethiopia, it is the first commercial deal of this size we have seen. Banks have a growing appetite for the Ethiopian market and we expect to see more deals like this,” one banker on the deal said.
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