 agreed to $10 billion financing agreement to fund mega airport construction... ){kind=link}
Getahun Tsegaye
Staff Reporter
Addis Ababa, Ethiopia – Ethiopian Airlines and the African Development Bank (AfDB) agreed today to a financing contract for a new international airport near Bishoftu.
It is disclosed that costing about $10 billion, the project will be rolled out in five phases and will greatly add value to Ethiopia’s aviation and economic landscape.
During the signing ceremony Ahmed Shide, Minister of Finance; Lt. Gen. Yilma Merdassa, Chairman of Ethiopian Airlines Group Board, and Dr. Akinwumi Adesina, President at AfDB were present. The AfDB was given the role of lead arranger in financing under this agreement.
It was said that four runways will be constructed in the new airport, as well as state-of-the-art passenger and cargo amenities, capable of handling in excess of 100 million passengers a year on its completion. The project, with a land area of about 3,975 hectares, would quadruple Ethiopia’s aviation capacity and is tipped to boost employment creation, regional trade, and tourism.
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While other airlines are rushing to the bankruptcy courts, EAL is rushing to meet its growing demands by acquiring more jumbo planes and building mega airports like this. Why not? It is being run from top to bottom by more than 18,000 peerless geniuses. Okay, bigots and connivers! What is your latest deep learning? Stop churning deepfakes and jump in the lake!!!
The beauty about this project is the overqualified CEO Mesfin Tasew had made sure that the current owners of the land to be used for the construction of the new airport are fairly compensated. He had promised everyone that the construction will not begin until all of them are resettled amicably. It was reported that he and fellow managers had a series of meetings with the current land owners who are mostly generational poor farmers. Most of them had accepted the fair offer but there were still a few of them who were not fully satisfied. We should all remember that giving up land or house for development is not always that easy. There is a load of emotion that has stored lifelong memories. Their son/brother CEO Mesfin bin Tasew has built homes for them to move to. Keep in mind that such take over of private land for public use with just compensation to the owners is common and perfectly legal in many Asian, Pacific, European, Latin American and North American countries. The genius CEO has done it all by the book of international laws. He has joined me saying to you bigots and connivers among our Diaspora thumbing our noses with this: Na-nana-na-nah!!!
Right on Brother! Right on!!!
If AfDB is involved then there is corruption. Why our government always give support for foreigners without credibility?