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We do not fund acquisition of planes – AFDB

The African development Bank (AFDB) has clarified its role in the financing and support of Africa aviation industry.

The bank is engaged in several projects on the continent of which tourism and aviation is widely featured in its budgets and spending.

But speaking on the session “Funding and Financing for Development: pragmatic measures to build a transparent, stable and predictable investment climate “ as a panel member on the experts discussion at the recently held first ministerial conference on Air Transport and Tourism in Africa in Santa Maria,Cabo Verde, the Chief Aviation officer of the bank Romain Ekoto said the Bank do not fund the purchase of long haul aircrafts by airlines but may finance the acquisition of single aisle aircraft, technical assistance and also support airlines to leverage private sector financing using diverse instruments. He added that, the Bank’s framework would not allow the utilization of its public window funds to finance aircraft acquisition.

He said, the bank has been instrumental in the finance and development of Africa’s aviation sector through infrastructure development, aircraft acquisition and institutional support projects and will continue to support for sustainable growth.

On his observation of the conference Romain said he was impressed to see Aviation and Tourism sectors joining their forces and hoped the deliberations and declaration will be followed to the latter and ensure the continent is not deprived of its development.

voyagesafriq.com

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