Ethiopian Airlines Group (EAG) and the African Development Bank (AfDB) have signed a landmark mandate letter, marking a major step toward constructing Africa’s largest airport.
Following the Letter of Intent signed on March 24, 2025, the Bank has been appointed as the Initial Mandated Lead Arranger (IMLA) for the Bishoftu mega airport project.
Under the agreement, AfDB will provide a $500 million loan and lead the mobilization of additional financing for the development of the new greenfield airport, located 40 kilometers south of Addis Ababa in Abusera.
The airport will have an initial capacity of 60 million passengers annually, expandable to 110 million, positioning it as a top global hub.
Ethiopian Airlines Group CEO Mesfin Tasew described the partnership as a decisive step toward building a “world-class pan-African gateway” that will boost intra-African trade, regional integration, tourism, and global connectivity.
AfDB President Dr. Akinwumi Adesina hailed the project as a proud moment for African aviation and infrastructure, aligned with the African Union’s Agenda 2063 and the African Single Air Transport Market (SAATM).
The new airport will complement Bole International Airport’s domestic operations and anchor an aerotropolis designed to stimulate regional development, create tens of thousands of jobs, and enhance logistics capacity.
The investment forms part of Ethiopian Airlines’ 2040 growth strategy, which emphasizes network expansion, infrastructure, and human capital development.
In the fiscal year ending June 30, 2025, the airline reported record revenues of $7.6 billion, transporting 19 million passengers worldwide.
