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The Common Market for Eastern and Southern Africa Bank (PTA Bank) approved the 6 million US dollar loan requested by Access Resorts, Ethiopia. The National Bank of Ethiopia has also approved the loan according to sources.  

Access requested the loan for the renovation and upgrade work it expects to carry out on the former Imperial hotel.

The central bank approved the loan because Access was able to prove that it can pay back the loan in foreign exchange noted Alemayhu Kebede, Director of Change Management and Communications at NBE.

Sunshine Construction, Ethiopia is to finalize an agreement for the management of the first Ethiopian  Marriott Apartment and Courtyard Hotels in the next two months according to sources.

The five-star executive apartment hotel owned and constructed by Sunshine opposite Estifanos Church, and the four-star Courtyard Marriott around Bole Medhanialem in Addis Ababa will be managed by Marriott International.

Girma Wake, former CEO of Ethiopian Airlines, Ethiopia’s flag carrier, was appointed as an advisor on aviation matters to the Ministry of Transport in Rwanda and Chairman of the Board for Rwand Air.

The appointment of Girma as Chairman of the Board was announced by Rwand Air on the 24th of January.

The move is a part of the airlines’ expansion plans explained Rwand Air in a statement following the appointment.

Ethiopian Airlines, Ethiopia’s flag carrier, announced plans to launch a new non stop flight from Addis Ababa to Dammam beginning on the 12th of February.     

The flight to be launched to Dammam will allow business people to investigate the investment and recreational potential in the area according to Tewolde Gebremariam, Chief Executive Officer of Ethiopian Airlines.

The flight to Dammam, the capital of the eastern province of the Kingdom of Saudi Arabia, will be the 8th destination in the Middle East for Ethiopian Airlines and its 64th around the world.
 
Source: Ethiopian News Agency