African Development Bank Leads $7.8B Funding for Africa’s Largest Ethiopian Airport by 2029

Ethiopia is undertaking a landmark infrastructure project to build Africa's largest airport near Bishoftu, southeast of Addis Ababa, with an estimated total cost of $10 billion. The African Development Bank (AfDB) has been appointed as the lead arranger to raise $7.8 billion for this project, reflecting its pivotal role in advancing strategic infrastructure across Africa. The airport, scheduled for completion in 2029, will feature four runways and the capacity to handle up to 100 million passengers annually, greatly exceeding the current 25 million passenger capacity of Addis Ababa's Bole International Airport. Ethiopian Airlines will contribute 20% of the funding and plans to shift its international operations to the new facility, which will be connected to the capital by a high-speed rail and expressway. This project aligns with Ethiopia’s Vision 2035, aiming to bolster the country's position as a major African and global air transport hub and support the expansion of Ethiopian Airlines' fleet and international routes. The formal financing agreement signing will involve Ethiopian Prime Minister Abiy Ahmed and AfDB President Akinwumi Adesina.