Ethiopian Airlines and AfDB to finance infrastructure project

Under this Mandate Letter, AfDB will provide a loan of USD 500 million and lead the mobilisation of the remaining amount, for financing the development of the new airport in Bishoftu, the continent’s most ambitious airport project to date. Located 40 kilometers south of Addis Ababa in Abusera, the new greenfield airport will have an initial capacity of 60 million passengers annually, with future expansion to 110 million, making it the largest airport in Africa and one of the top global hubs.

Ethiopian Airlines Group CEO Mesfin Tasew said: “We are pleased to partner with the African Development Bank in arranging the required financing for the development of this iconic aviation infrastructure. The signing of this mandate letter marks a decisive step toward realising a world-class pan-African gateway that will boost intra-African trade, regional integration, tourism, and global connectivity. Ethiopian Airlines Group shall continue leading the enhancement of the aviation industry in the continent.”

“This is a proud moment for African aviation and infrastructure.” said Dr. Akinwumi Adesina, President of the African Development Bank. “The signature of this mandate letter marks a decisive step toward realising a world-class pan-African gateway that will boost intra-African trade, regional integration, tourism, and global connectivity.”