Ethiopian Airlines Group has signed a Letter of Intent with the African Development Bank (AfDB) to collaborate on the development of the Bishoftu International Airport, a $7.8 billion infrastructure project aimed at significantly boosting Ethiopia’s aviation capacity.
The new airport is expected to increase annual passenger traffic from the current 17 million to 60 million by 2040, positioning Ethiopia as a leading air transport hub in Africa.
During the signing ceremony, Ethiopian Finance Minister Ahmed Shide expressed appreciation for the AfDB’s continued support, noting the bank’s $1.2 billion investments in various sectors. He also reaffirmed Ethiopia’s commitment to economic reforms, regional integration, and renewable energy development under Prime Minister Abiy Ahmed’s leadership.
AfDB President Akinwumi Adesina hailed the project as a flagship initiative for Africa and praised Ethiopia’s transformation efforts, particularly in Addis Ababa.
Both parties pledged to strengthen their partnership to advance regional development and connectivity.
