ETHIOPIAN AIRLINES SIGNS €30 MILLION LOAN

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By TESTCustomwebLP TESTCustomwebLP October 17, 2010 13:53

ETHIOPIAN AIRLINES SIGNS €30 MILLION LOAN

Ethiopian Airlines and the Agence Francaise de Developement (AFD) have signed a loan agreement of 30 Million Euros at the Ethiopian Airlines Headquarters. The agreement is aimed at financing the expansion and upgrading of Ethiopian Airlines training academy with state-of-the-art infrastructure and facilities. The deal covers a 15 years term loan, part of which is concessional.

Tewolde G Mariam, designate chief executive officer of the airlines and Didier Grebert, AFD regional manager for Ethiopia, Sudan and Somalia, signed the agreement at Ethiopian headquarters on October 15, 2010.  The signing ceremony was graced by HE Jean-Christophe Belliard, French Ambassador to Ethiopia and Ethiopian as well as AFD officials.

“The Ethiopian Aviation Academy has strategic vision of becoming World Class Centre of Excellence in Aviation Training with the mission of providing the highest standard of aviation training to Ethiopian and to other aviation industries in the region. Hence, the latest agreement with AFD will support Ethiopian’s plan to invest on highest training standards and equipments”, said Mariam, designate CEO of Ethiopian.

“AFD has been instrumental in assisting developing countries for a sustainable recovery from the impact of 2008 global financial crisis. In line with that, initiatives were taken by AFD and its subsidy PROPACO in implementing aid and partnership activities. The sharp rise in activities of AFD in Ethiopia went hand in hand with a scaling up of strategic partnerships. The AFD office has moved since 2007, from Djibouti to Addis to become a regional office for Ethiopia, Sudan, Somalia and Eritrea,” said AFD’s Grebert.

Ethiopian Airlines Aviation Academy has become a powerful source of the African aviation training.  The Academy is committed to developing and providing a competent workforce for Ethiopian Airlines in particular and the aviation industry for the region in general. The academy runs concurrent training and development programs covering pilots, cabin crew, technicians and conducts comprehensive courses in marketing and leadership management.

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By TESTCustomwebLP TESTCustomwebLP October 17, 2010 13:53
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