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The African Development Bank (AfDB) has committed $500 million to support the development of a new state-of-the-art international airport in Ethiopia, a project set to transform the country into one of the world’s top aviation hubs by 2035.
The agreement, signed between AfDB President Akinwumi Adesina and Ethiopian Airlines Group Chief Commercial Officer Lemma Yadecha, officially designates the AfDB as the Mandated Lead Arranger for the ambitious project. In this role, the bank will spearhead efforts to raise up to $8 billion toward the airport’s construction.
Ethiopian Finance Minister Ahmed Shide hailed the initiative as a game-changer for the nation’s transport and economic sectors.
“This world-class airport will serve as a vital gateway to progress and prosperity. More than a transport hub, it is a transformative project that will position Ethiopia among the world’s top 20 aviation hubs by 2035,” Shide remarked.
The future Bishoftu International Airport, located roughly 40 kilometers from Addis Ababa, is expected to become the largest airport in Africa once complete. The $10 billion project will be funded through a combination of AfDB-led financing, Ethiopian Airlines’ 20% equity contribution, and additional investment partners.
Currently, the Addis Ababa Bole International Airport handles up to 25 million passengers annually but is nearing full capacity. The new Bishoftu facility aims to more than double this capacity, initially accommodating 60 million passengers per year in its first phase and expanding to 110 million passengers annually at full capacity.
Authorities expect the mega-hub to significantly boost Ethiopia’s tourism sector and strengthen its competitive position against major regional and global aviation players, including Dubai, Casablanca, and Johannesburg. The project is also anticipated to create thousands of jobs, stimulate economic activity in the surrounding area, and enhance Ethiopia’s connectivity with the rest of the world.
The airport will be built in two major phases, with completion targeted for 2029. Once operational, the facility is projected to not only alleviate congestion at Bole International Airport but also serve as a major transit point linking Africa to Europe, Asia, and the Americas.
With substantial backing from the African Development Bank and the strategic involvement of Ethiopian Airlines, the Bishoftu International Airport project stands as one of the most ambitious infrastructure undertakings in Africa. By combining modern aviation capacity with Ethiopia’s geographic advantage as a continental gateway, the project is poised to redefine air travel in the region and secure the nation’s place among the world’s leading aviation hubs.