Fundraising Underway for New Ethiopian Airport
The African Development Bank (AfDB) has been appointed lead arranger to secure $7.8 billion in financing for a new international airport in Ethiopia, set to become Africa’s largest when completed in 2029. Designed to handle up to 100 million passengers annually, the four-runway facility will be located near Bishoftu, approximately 45 km southeast of Addis Ababa, and is expected to significantly enhance Ethiopia’s aviation infrastructure.
The project is being spearheaded by state-owned Ethiopian Airlines, which will contribute 20% of the total $10 billion cost, with the remainder sourced from development finance institutions and other lenders. The new airport aims to replace Bole International Airport, which is nearing its maximum capacity of 25 million passengers per year. A formal signing ceremony is scheduled in Addis Ababa, with the presence of AfDB President Akinwumi Adesina and Ethiopian Prime Minister Abiy Ahmed.
Source: Reuters