04 JUN 2006 African countries risk losing millions in aid over poor air safety
Upset that Africa`s poor aviation safety record is not improving, the World Bank and the IATA have decided to reward those countries that make a concerted effort to improve safety and punish those that do not. The World Bank is already withholding millions of euros of aid from countries that do not enforce world aviation safety standards, and has now announced a program of $150 million in grants and credits to reward those countries in West Africa and Central Africa that agree to work together to improve safety. (International Herald Tribune)
One wonders if this was the motivating factor for Equatorial Guinea Minister of Transport today revoked all but one Air Services Licenses and AOC's. Is this a cash grab for the EG CAA