IATA, AfDB sign MoU to advance Africa’s aviation
The MoU was signed Tuesday in Abuja, Nigeria, on the sidelines of the International Civil Aviation Organization’s World Aviation Forum, “Financing the Development of Aviation Infrastructure” by IATA’s Director General and Chief Executive Officer, Alexandre de Juniac, and African Development Bank President Akinwumi Adesina.
The aviation industry in Africa currently supports US $72.5 billion in economic activity and 6.8 million jobs. Over the next 20 years, the industry is forecast to grow at nearly 6% per year.
Under the MoU, IATA and the AfDB will work in partnership to further Africa’s economic and social development by helping build a safe, secure and efficient aviation industry. The two organizations commit to create and implement programs and projects, including technical cooperation for capacity building. Priority areas will include improving connectivity, safety and aviation infrastructure.
The African Development Bank has invested close to US $1 billion over the past decade in the construction and expansion of airport terminals, as well as aviation safety and aircraft financing.
Additional Bank interventions in the aviation industry include grants for capacity building and coordination systems in 25 countries and 69 airports, that will help increase the number of International Civil Aviation Organization safety and security compliant airports from 3 to 20 by 2019. ■