DJIBOUTI (Halbeeg News) – The government of Djibouti is in talks with European banks to secure the finance of a new airport in the country.
The move follows after the tiny horn of African country canceled a contract awarded to China Civil Engineering Construction Corp earlier according to the port authority.
Major EU banks lead by German Development Bank, known as KfW, is leading the group of lenders considering whether to provide a $420 million commercial loan for the project, Djibouti Ports & Free Zones Authority Chairman Aboubaker Omar Hadi said in an interview though no deal has been signed.
The proposed Hassan Gouled Aptidon International Airport is expected to be built about 25 kilometers (south of the capital, Djibouti City.
The capital already hosts several military bases for major powers including the U.S. and other air forces.
The country is situated on one of the world’s busiest shipping lanes and home to six ports have become increasingly important to regional and world powers. Smaller than the U.S. state of Massachusetts, it hosts the largest U.S. military base in Africa in addition to a Chinese People’s Liberation Army support facility.
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