ADDIS ABABA, March 5 (Xinhua) -- The governments of Italy and Ethiopia on Thursday signed a financial agreement that aimed supporting Ethiopia's riverside green development project, dubbed "Beautifying Sheger Project."

The 181 million Ethiopian birr worth (about 5.5 million U.S. dollars) financial accord, which was signed between the Ethiopian State Minister of Finance and Economic Cooperation Admasu Nebebe and the Ambassador of Italy to Ethiopia Arturo Luzzi, mainly aimed to support a riverside green development project that was launched by the Ethiopian government in October last year.

"Italy intends to contribute to the efforts of the Ethiopian government aimed at promoting a fully sustainable development of the country, with a positive impact on the mitigation of climate change and enhancement of local communities," the Italian Embassy to Ethiopia said in a statement following the agreement signing event on Thursday.

Initiated by the Ethiopian Prime Minister Abiy Ahmed, the 56-km Beautifying Sheger Project was launched in October 2019, in which the Chinese-funded 12-km first section of the project is currently being carried out with financial support from the Chinese government and contracted by the China Communications Construction Company (CCCC).

CCCC is currently undertaking the first segment of the project that includes the construction of a Central Square covering about 48 hectares as well as a 12-km river treatment, all the way from the Entoto Mountain on the outskirts of Addis Ababa to the Peacock Reach at the heart of the city.

The project mainly envisaged beautifying the capital of the East African country, and ultimately transforming the city into a hub of urban tourism, whereby it provides outstanding attraction in the city and also helps boost the country's tourism and economy.

The Ethiopian Prime Minister Abiy Ahmed had recently hailed the project's progress and reiterated the multiple benefits and opportunities created with the project, with particular emphasis on its expected contribution upon completion.

The Chinese ambassador to Ethiopia Tan Jian said that the project would be completed this year, when Ethiopia and China celebrate the 50th anniversary of their diplomatic ties.

Tan also noted that such development projects would further cement the long-standing relations between the two friendly countries, with particular emphasis given to boosting the people-to-people ties among the two countries.

Speaking to Xinhua after the site visit, Billene Seyoum, Press Secretary at the Ethiopian Prime Minister's Office, said that the project has already employed about 1,500 local workers, and predicted that up to 5,000 jobs are going to be created to sustain the site upon the project's completion.

Shen Jiaqi, Executive General Manager of CCCC Ethiopia, said that his company has assigned adequate capacity in a bid to accomplish the project in time, while emphasizing that the project is also expected to further consolidate the Sino-Ethiopia ties. Enditem

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