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Djibouti Signs 15 Million-Euro Accord with EU on Power Project


(July7, 2011)      
Djibouti signed a 15 million-euro ($21.7 million) financing agreement with the European Union to develop an electricity interconnection project with neighboring Ethiopia.

The accord was signed by Finance Minister Ilyas Dawaleh Moussa and Andris Piebalgs, the EU’s commissioner for development, in Djibouti City, the capital, yesterday.

Djibouti wants to reduce its dependence on oil-fired power plants and increase use of hydropower sources in Ethiopia as it seeks to reduce power costs.

The EU plans to provide 63.7 million of aid to Djibouti for the 2000-2013 periods.

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About labo22

Hi, this is Labaale your average concerned citizen of Horn of Africa, we’re really worried about the stability of this war torn region, we have the worst dictators from around the world, ironically supported by the Western Countries supposedly the advocators of democracy, transparency, good governance and human Right, If regime change is really needed this is the place to start, we have no short of rootless dictators from MELES Zenawi of Ethiopia,ISMAIL Guelleh of Djibouti,RAYAALE Kahin of self-declared Somaliland and ISAIAS Afwerk of Eritrea.

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