ADDIS ABABA – Ethiopia has appointed the African Development Bank (AfDB) as the mandated lead arranger to secure $8 billion in financing for the construction of the Bishoftu International Airport, set to become Africa’s largest aviation hub.
The agreement was formalised on Monday at a signing ceremony held at the Skylight Hotel in Addis Ababa, attended by Ethiopian Finance Minister Ahmed Shide and AfDB President Dr. Akinwumi Adesina. Ethiopian Airlines CEO Mesfin Tasew and AfDB Vice President for Private Sector, Infrastructure and Industrialization Solomon Quaynor signed on behalf of their respective institutions.
The $10 billion project, located in Abusera, about 40 kilometres south of Addis Ababa, will serve as Ethiopian Airlines’ new global hub. The AfDB will coordinate and manage the funding process, with up to $500 million of its own resources earmarked for the venture, pending board approval.
The new airport’s first phase will commence construction in late 2025, with an initial capacity to handle 60 million passengers annually, eventually expanding to 110 million. It forms part of Ethiopian Airlines’ Vision 2040 growth plan and aligns with the African Union’s Agenda 2063 and Single Air Transport Market objectives.
Once operational, Bishoftu International Airport will complement Bole International Airport, which will shift focus to domestic operations. It is expected to become a key hub for passenger and cargo traffic across Africa and beyond.
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