6 days ago
Ethiopian Airlines, AfDB Sign $10bn Bishoftu Mega-Airport Deal to Boost Africa's Aviation Hub Ambitions
Ethiopian Airlines and the African Development Bank (AfDB) have signed a landmark $10 billion financing agreement to build a state-of-the-art international airport in Bishoftu, in what is being hailed as one of Africa's most ambitious aviation infrastructure projects.
Under the agreement, signed on Monday in the Ethiopian capital, the AfDB will act as the lead arranger for financing. The ceremony was attended by senior officials including Ethiopia's Minister of Finance Ahmed Shide, Ethiopian Airlines Group Board Chairman Lt. Gen. Yilma Merdassa, and AfDB President Dr. Akinwumi Adesina.
The Bishoftu Mega-Airport, to be developed in five phases, will feature four runways, cutting-edge passenger terminals, advanced cargo handling facilities, and capacity to handle over 100 million passengers annually once completed. Covering an estimated 3,975 hectares, the facility is expected to quadruple Ethiopia's current aviation capacity and position the country as a premier African transit hub.
Officials say the project will significantly boost employment, regional trade, and tourism, while strengthening Ethiopia's role in connecting Africa to global markets. The mega-airport will also enhance the country's ability to compete with major transit hubs in the Gulf, Europe, and Asia, capitalising on its strategic geographic location.
Ethiopia's aviation sector, anchored by its award-winning national carrier, has experienced rapid growth over the past decade. The Bishoftu project is a central pillar of the government's long-term economic development strategy, aimed at leveraging aviation to drive foreign investment and cross-continental connectivity.
