AFD loan for the expanding Ethiopian Airlines Aviation Academy
A partially concessional loan of 30 M€ was granted to the Ethiopian Airlines company with a view to expanding and levelling its training centre. Tewolde Gebre Mariam, the new Chairman and managing director of Ethiopian Airlines, and Didier Grébert, Director of the Regional office in Addis Ababa, signed the loan agreement on October 15, in the presence of Jean-Christophe Belliard, the French Ambassador to Ethiopia.
This is in line with the framework partnership document signed between France and Ethiopia and with the AFD ’s intervention strategy in Ethiopia, which aims to support economic growth in order to contribute to the country’s economic and social development programme Founded in 1945, Ethiopian Airlines has now become a solid and appreciated company of international repute. It is developing its flight service systematically, with Addis-Abeba being, from now on, regarded, as a regional hub. The 30 M€ loan granted by the AFD is to finance the expansion of the Ethiopian Aviation Academy, which is likely to become one of the main training centres for the air transport business on the continent. The center will be instrumental in strengthening the capacity of the Ethiopian company, but also improving air service in Africa and upgrading the Ethiopian expertise thus justifying the partially concessional character of the financing.