The African Development Bank (AfDB) and Ethiopian Airlines Group on Monday signed a funding agreement with the bank taking a leading role to mobilise nearly 7.8 billion for the construction of the country’s new mega airport.
Under the new deal, AfDB will provide a loan of $500 million and lead the mobilisation of the remaining amount to finance the building of the new airport whose construction is underway about 40 kilometers southeast of Addis Ababa.
The Bishoftu International Airport project, with a total cost of $10 billion, is envisioned as Africa’s largest airport and a new global hub for Ethiopian Airlines, the continent’s premier carrier.
“This $10 billion U.S. dollars investment, the largest project in our country’s history, addresses the region’s rapidly growing air traffic demand, alleviating the saturation at Addis Ababa’s Bole international airport which is nearing its limit of 25 million passengers,” Ahmed Shide, Ethiopia’s Minister of Finance said during the signing the agreement.
Upon completion of its first phase, the airport will handle 60 million passengers annually.
It will have the capacity of handling 110 million passengers per year after being fully completed in 2030, ranking among the world’s largest aviation hubs.
The Abusera Mega Airport Project aligns with broader African Union goals, particularly Agenda 2063 and the African Single Air Transport Market (SAATM), which aim to boost intra-African connectivity, reduce travel times, and promote economic integration.
The project is expected to stimulate economic growth, create thousands of jobs, and enhance regional trade and tourism, supporting Ethiopia’s Vision 2035 to become a continental aviation hub.
Ethiopian Airlines views the project as central to expanding its global network, modernising infrastructure, and enhancing competitiveness.
MG/as/APA