The African Development Bank (AFDB) has approved a 159 million dollar loan to Ethiopian Airlines to help expand and modernise ts fleets, of these 85pc of the loan financed by the African Trade Insurance (ATI).
As part of the second Growth & Transformation Plan, Ethiopia plans to have five more airports in the coming years. The airports expansion projects will cost over 2.3 billion Birr.
The Bole International Airport expansion will cost 340 million dollars. This comes as Ethiopian Airlines expands its reach to more than 90 destinations.
Last week, The Ethiopian Airport Enterprise (EAE) completed a 24 million Br project to automate its operations and services using the Software Application Product (SAP) and Enterprise Resource Planning systems.
AFDB earlier this year loaned Ethiopia seven billion Birr for service provision and for water sanitation programmes.
MIDROC- Derba Cement in 2008 became the only private sector entity in the country that has secured 200 million dollar loan from AFDB. In addition, the AFDB recently approved a 7.5 million dollar loan to help the nation become a member of African Trade Insurance Agency (ATI).
Established in 1960s, AFDB has so far financed over 20 projects in Ethiopia.
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