By Redaction ARPS with AfDB
The Ethiopian Finance Minister, Hon. Ahmed Shide, and the President of the African Development Bank Group, Dr. Akinwumi Adesina, will sign the agreement for the Bishoftu International Airport project.
Ethiopian Airlines Group CEO Mesfin Tasew and AFDB Vice President Solomon Quaynor will finalize the agreement that designates the Bank as the lead arranger for mobilizing financing for the $10 billion initiative.
The Bank intends to secure up to $8 billion in debt financing, with $500 million allocated specifically for this project, which is part of Ethiopian Airlines’ Vision 2040 plan.
The new airport, situated 40 km south of Addis Ababa, will accommodate 60 million passengers per year, expanding to 110 million when it reaches full capacity.
The construction is scheduled to begin in late 2025, significantly changing the aviation landscape in Ethiopia and complementing the existing Bole International Airport.
This initiative aligns with the African Union’s Agenda 2063, which aims for enhanced regional integration.
