France-Ethiopia: Ethiopian, AFD sign 30 mln euro loan agreement

(HornTrade) - The Ethiopian Airlines and the Agence Francaise de Development (AFD) signed a loan agreement of 30 million euro at the Ethiopian Airlines Headquarters on Friday.

The agreement is aimed at financing the expansion and upgrading of Ethiopian Airlines training academy with the state-of the-art infrastructure and facilities. The agreement covers a 15 year term loan, part of which is confessional.

Tewolde Gebre Mariam, Designate Chief Executive Officer (CEO) of the airlines and Didier Grebert, AFD Regional Manager for Ethiopia, Sudan and Somalia signed the agreement.

Tewolde on the occasion said the Ethiopian Aviation Academy has strategic vision of becoming World Class Center 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.

The agreement with AFD will support Ethiopian’s plan to invest on highest training standards and equipment, he added.

Grebert on his part said that AFD has been instrumental in assisting developing countries for sustainable recovery from the impact 2008 global financial crisis. In line with that, initiatives were taken by AFD and its subsidy PROPACO in implementing aid and partnership.

He added that the sharp rise in activities of AFD in Ethiopia went hand in hand with a scaling up of strategic partnership.

According to Grebert, the AFD office has moved since 2007, from Djibouti to Addis Ababa to become a regional office for Ethiopia, Sudan, Somalia, and Eritrea.

The signing ceremony was attended by Jean-Christophe Belliard, French Ambassador to Ethiopia as well as Ethiopian and AFD officials.

Ethiopian Airlines Aviation Academy has become a powerful source of the African aviation training. It 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 current training and development programs covering pilots, cabin crew, technicians and conducts comprehensive courses in marketing and leadership management.

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