Addis Ababa, the colossal airport is under construction. Ethiopia is getting one of the world's largest airports.

Following the signing of a Letter of Intent last March, Ethiopian Airlines Group and the African Development Bank (AFDB) have signed a historic Letter of Mandate appointing the bank as Initial Mandated Lead Arranger for the financing of Ethiopian Airlines’ mega-airport, a revolutionary aviation hub set to redefine air connectivity across Africa.

A statement indicates that the AfDB will provide a $500 million loan and lead the mobilization of the remaining amount to finance the development of the new Bishoftu Airport, the continent's most ambitious airport project to date.

Initial capacity 60 million per year

Located 40 kilometers south of Addis Ababa, in Abusera, the new airport will have an initial capacity of 60 million passengers per year, with the possibility of expanding to 110 million, making it Africa's largest airport and a major global hub. Construction is expected to begin at the end of this year and continue for the next five years. The final estimated cost is $10 billion (€8.3 billion).

The mega-airport will become the future hub for all international passenger and cargo traffic, complementing Bole International Airport, which currently handles 25 million passengers annually and will maintain its domestic operations. It will be the centerpiece of an aerotropolis designed to stimulate regional development, improve logistics capacity, and generate tens of thousands of jobs.

“A world-class pan-African gateway”

"We are delighted to partner with the African Development Bank in arranging the necessary financing for the development of this iconic aviation infrastructure. The signing of this Letter of Mandate marks a decisive step towards the creation of a world-class pan-African gateway, capable of fostering intra-African trade, regional integration, tourism, and global connectivity. Ethiopian Airlines Group will continue to lead the development of the continent's aviation sector," commented Ethiopian Airlines CEO Mesfin Tasew.

"This is a proud moment for African aviation and infrastructure," added Akinwumi Adesina, President of the African Development Bank. "This Mandate Letter represents a transformative moment not only for Ethiopian Airlines and Ethiopia, but also for the entire continent, and the African Development Bank is proud to support it."