KfW IPEX-Bank and AFD are financing Ethiopian Airlines' New Cargo Terminal, one of the largest in the world

Frankfurt am Main (ots) -

- Deliveries for Airport in Addis Ababa/Ethiopia
- Technical building equipment comes from Germany

KfW IPEX-Bank is financing the export of the technical interior
equipment of the new air cargo terminal at Addis Ababa international
airport with a loan amounting to EUR 32.8 million. Borrower and
investor is Ethiopian Airlines, Africa's largest airline and member
of the Star Alliance. General planning as well most important
technical components of the building, cooling and storage facilities
come from the exporter Unitechnik Systems from Germany.

KfW IPEX-Bank and the French Agency for Development (Agence
Française de Développement - AFD) are acting as both co-arrangers and
lenders of the financing. KfW IPEX-Bank financing will also benefit
from a twelve-year term and export credit insurance from the Federal
Republic of Germany ("Hermes cover"). AFD is providing in parallel a
loan amounting to a further EUR 50 million to finance the building
(incl. airside and landside apron work) constructed by local
construction firm Varnero. "The conclusion of this export financing
shows that German quality and engineering know-how is globally
demanded, specifically for high-quality long-lasting technical
equipment", says Christian K. Murach, member of the Management Board
of KfW IPEX-Bank. "With our financing we are not only contributing to
the improvement of the infrastructure of a prospering country but
also to securing many highly skilled jobs - be it on site in Addis
Ababa or with the exporter in Germany."

Ethiopian Airlines' new cargo terminal is among the largest
projects in the history of Unitechnik Systems based in Wiehl in the
German state of North Rhine-Westphalia. Already in 2006 the company
played an important role in the construction of the existing air
cargo terminal at Addis Ababa airport. Most recently Unitechnik
supplied an air cargo terminal in Durban/South Africa with cooling
equipment. The technology for this current project is adapted to the
needs of the client and combines relatively low complexity with a
high grade of usability. It is robust, easy to handle, to service and
to control.

This air cargo terminal financed by KfW IPEX-Bank and AFD will be
erected in two phases reaching in its final stage of expansion an
annual capacity of 1.2 million tonnes of air cargo. That will make it
the largest air cargo terminal in Africa and one of the largest in
the world. It is integral part of Ethiopian Cargo Vision 2025 aiming
at supporting fast growing volumes of perishable exports of fruits,
flowers and meat mainly to destinations in Europe and the Middle
East. Ethiopian Cargo is the largest cargo operator in Africa with 24
freighter destinations using 8 dedicated cargo aircraft, mainly
wide-bodies such as the B777-200 LR freighter. By 2025 Ethiopian
Cargo is planning to serve 37 international destinations with a fleet
of 18 dedicated freighters.

About KfW IPEX-Bank GmbH

Within the KfW Group, KfW IPEX-Bank is responsible for
international project and export finance. Its function of providing
financing to boost the German and European economy is derived from
the legal mandate assigned to KfW. It offers medium- and long-term
financing to support key export industries, to develop economic and
social infrastructure and to fund environmental and climate
protection projects. KfW IPEX-Bank operates as a legally independent
group subsidiary and plays a major role in fulfilling KfW's
promotional mission. It is represented in the most important economic
and financial centres across the globe.

Pressekontakt:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: Dela.Strumpf@kfw.de
Tel. 069 7431-2984, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de