Addis ababa: The Ethiopian Airlines Group has officially appointed the African Development Bank (AfDB) to serve as the mandated lead arranger for mobilizing 8 billion USD in debt financing for the construction of the new Bishoftu International Airport. This major project, with a total cost of 10 billion USD, is set to become Africa’s largest airport and a significant global hub for Ethiopian Airlines.
According to Ethiopian News Agency, the mandate letter was formally signed by Ethiopian Airlines Chief Commercial Officer Lema Yadecha and African Development Bank President Dr. Akinwumi A. Adesina. The signing ceremony was attended by prominent figures, including Ethiopian Finance Minister Ahmed Shide and the Board Chairman of Ethiopian Airlines Group, Lieutenant General Yilma Merdassa, among other dignitaries.
Finance Minister Ahmed Shide described the project as a critical gateway to progress and prosperity. He emphasized that the new mega-airport, located in Abusera, Bishoftu, 40 kilometers southeast of Addis Ababa, will meet the growing demand for air traffic and bolster Ethiopia’s position as a leading aviation hub.
The President of the African Development Bank, Akinwumi A. Adesina, expressed admiration for Ethiopia’s ambitious vision. He noted the airport’s potential to revolutionize transport both in Africa and globally. The project, he added, will position Ethiopia among the world’s top 20 aviation hubs by 2035, with the capacity to serve between 60 and 110 million passengers when fully developed.
Lieutenant General Yilma Merdassa, the Board Chairman of Ethiopian Airlines Group, highlighted the project’s potential to make Ethiopia a hub not just for Africa but for the entire world. He noted Ethiopian Airlines’ established reputation for safety, customer focus, and profitability, positioning it as a pride of Africa.
Ethiopian Airlines Chief Commercial Officer Lema Yadecha spoke about the project’s urgency and scale during the signing ceremony. He pointed out that Bole International Airport in Addis Ababa, which handled 19 million passengers by the fiscal year ending June 30, 2025, is nearing its expanded capacity of 25 million. With projections of up to 60 million passengers annually by 2040, a new mega-hub airport is deemed essential.
The site at Abusera was chosen after thorough studies and a master plan finalized in 2022. Lema stated that the airport would open in phases starting November 2029, initially featuring two parallel runways and terminal facilities for 60 million passengers annually. At full development, it will expand to four parallel runways and facilities for 110 million passengers yearly. Cargo handling capacity is expected to grow from 2.1 million tons to 3.73 million tons at full development. The project also includes an Airport City with hotels, business parks, and leisure facilities to drive local economic growth.