News Column

Ethiopia : $68 Million Loan to be received by Ethiopian Airlines from AFD

June 26, 2014

The airline s chief executive, Tewolde Gebremariam, said that the Ethiopian Airlines has signed a 50 million Euro ($68 million) loan agreement with Agence FranÇaise de DÉveloppement (AFD) that will be used to finance the construction of a new state-of-the-art cargo terminal.

Tewolde said that the loan will help the African carrier to build a new cargo terminal which upon completion will have an annual capacity of 1.2 Million Tons. This is part of the company s Vision 2025 plan that aims to support the nation s fast growing export of perishables.

Christian YOKA, AFD Regional Director said, This credit agreement is the second of its kind after the one signed for the expansion and upgrading of Ethiopian Airlines multinational aviation training center which is nearly completed partially in operation. The new agreement shows our commitment to further support Ethiopian in its growth plan .

The Ethiopian government said that it had generated $2.6 billion from the export of goods and commodities within the last 10 months, Trade Ministry official declared.

The ministry s Spokesperson, Amakele,Yimam ,said that the amount was generated mainly from the export of animals, fruits and vegetables, coffee, hide and skin, textile and garments.

Major destinations of Ethiopian products in the 10 months of the present fiscal year are Somalia, China, Germany, the Netherlands and Saudi Arabia.

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Source: TendersInfo (India)

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