The International Air Transport Association (IATA) and the African Development Bank (AfDB) have signed a memorandum of understanding (MoU) to establish a framework for collaboration on boosting the aviation sector in Africa.
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 for the continent. The two organizations commit to create and implement programs and projects, including technical cooperation for expanding intake capacity. Areas of priority for the partnership will include improving connectivity, safety and aviation infrastructure.
The MoU was signed at the International Civil Aviation Organization World Aviation Forum – Financing the Development of Aviation Infrastructure – in Abuja, Nigeria, by IATA’s director general and CEO Alexandre de Juniac, and African Development Bank President Akinwumi Adesina.
Speaking of the MoU, Alexandre de Juniac said, “Aviation in Africa currently supports US$72.5bn in economic activity and 6.8 million jobs. Over the next 20 years, aviation is forecast to grow at nearly 6% per year. This creates significant opportunities. But achieving this potential will not happen by chance; strong partnerships are key. The MoU with ADB will help facilitate the growth and development of Africa’s aviation industry. In so doing, it will expand prosperity and change peoples’ lives for the better in the continent’s 54 nations.”
AfDB’s Adesina added, “The aviation sector is especially important as it opens up doors to investors. Very few invest where it’s difficult to travel to. That’s why ease of access via air travel is strongly correlated to economic growth. We must make regional aviation markets competitive and drive down costs, raise efficiencies and improve connectivity and convenience.
“From Abuja, a new voice has arisen through this partnership: Africa’s aviation time has come! Together, let’s open up the skies of Africa, and together let’s integrate Africa. By so doing, we will build stronger and more resilient economies.”
