New Ethiopian Airport Gets A Billion-dollar Afdb Injection

In a major boost for Africas aviation sector, the African Development Bank AfDB and Ethiopian Airlines Group have formalised their collaboration on the Abusera International Airport Project by signing a letter of intent LOI.

This ambitious 7.8 billion initiative is expected to reshape Ethiopias aviation industry and reinforce its status as a key transport hub on the continent.

The LOI was officially signed earlier this month at the AfDB headquarters in Abidjan.

The agreement was endorsed by Mesfin Tasew Bekele, CEO of Ethiopian Airlines Group, and Nnenna Nwabufo, AfDB Vice President for Regional Development, Integration, and Business Delivery.

Several high-ranking officials, including Ethiopian Finance Minister Ahmed Shide and AfDB President Dr. Akinwumi Adesina, were present at the event.

The state-of-the-art airport will be constructed in Bishoftu, approximately 40km from Addis Ababa Bole International Airport.

Designed to complement the existing facility, which is nearing its capacity of 25 million passengers annually, the new airport is intended to accommodate the surging demand for both passenger and cargo transport in the region.

By 2040, the project aims to boost annual passenger capacity from 17 million to more than 60 million.

This expansion is set to enhance regional air connectivity within Africa while strengthening Ethiopias global aviation links.

The Abusera International Airport Project aligns with the AfDBs strategic focus on regional integration through large-scale transport initiatives.

It is expected to drive economic growth and bolster Ethiopian Airlines competitive position in international aviation.