The African Development Bank (AfDB) will spearhead efforts to raise $7.8 billion (Ksh.1 trillion) for the construction of a new international airport in Ethiopia, set to become Africa’s largest when completed in 2029.
In a statement late Thursday, the AfDB said its appointment as lead arranger “reflects its catalytic role in advancing strategic infrastructure across the continent and its proven leadership in structuring complex transactions.”
The four-runway facility will be built near Bishoftu, about 45 kilometres southeast of Addis Ababa, under a design agreement signed by state-owned Ethiopian Airlines. Once operational, it will have the capacity to handle 100 million passengers annually, quadruple the current capacity of Bole Addis Ababa International Airport, which is nearing its 25-million-passenger limit.
Ethiopian Airlines CEO Mesfin Tasew revealed on Tuesday that the $10 billion project will be funded through a mix of airline contributions, covering 20%, and external financing from creditors.
A formal signing ceremony, attended by AfDB President Akinwumi Adesina and Ethiopian Prime Minister Abiy Ahmed, is scheduled for Monday in Addis Ababa. The development marks a significant milestone for Africa’s aviation infrastructure and reinforces Ethiopia’s position as a continental air transport hub.
Written By Rodney Mbua
