The African Development Bank Group (AfDB) has signed an agreement with Ethiopian Airlines Group to mobilize US$8 billion for the construction of Bishoftu International Airport, a mega project set to become the largest airport in Africa.
A ceremonial signing was held in Addis Ababa on Wednesday, attended by Lemma Yadecha, Ethiopian Airlines Group Chief Commercial Officer, AfDB President Akinwumi Adesina, senior airline executives, and government dignitaries.
According to AfDB, the airport will be built in Abusera, 40 kilometers south of the capital, with an initial capacity to handle 60 million passengers annually, eventually expanding to accommodate 110 million.
This capacity would surpass that of Africa’s busiest airports, which currently serve between 18 and 29 million passengers a year.
Construction of the first phase is expected to begin in late 2025.
Once completed, Bishoftu International Airport will operate as a major hub for international, regional, and cargo flights, while the existing Bole International Airport will be repurposed for domestic services.
Ethiopian Airlines, Africa’s largest carrier, considers the new airport a central pillar of its Vision 2035 growth strategy, which focuses on expanding routes, enhancing infrastructure, and investing in workforce development to boost global competitiveness.
The AfDB highlighted that the project aligns with the African Union’s Agenda 2063 and the African Single Air Transport Market, both aimed at strengthening continental integration and connectivity.
Under the agreement, the AfDB will take the lead in structuring and securing financing from both public and private sources, reinforcing its commitment to driving large-scale infrastructure development across Africa.