A China-based bank has pledged USD 500 million to support the development of the proposed Bishoftu International Airport, according to Ethiopian Airlines Group (EAG) CEO Mesfin Tasew Bekele. The announcement marks an important step forward for the multi-billion-dollar project, Ecofin Agency reported.
Mesfin revealed the commitment in Rabat, Morocco, during the 2026 Africa Investment Forum. Although he did not name the bank, he said the pledge reflects growing interest from global financiers in the airport project, which is being led by Africa’s largest airline.
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The new airport, to be constructed near the town of Bishoftu, is estimated to cost USD 12.5 billion, covering land acquisition, resettlement, and financing expenses. Project estimates show that the private sector may need to fill a funding gap of around USD 8 billion.
Mesfin said fundraising efforts are progressing well. “We are engaging a lot of financial institutions… in all parts of the world: the Middle East, China, India, Europe, and North America,” he told Ecofin Agency. He added that responses from potential lenders have been “very, very positive.”
The Morocco announcement follows a previous stop in Paris on November 3, where EAG executives — advised by KPMG and Dar Al-Handasah Consultants — met European investors to promote the project. While the airline has not shared specific outcomes from the Paris meetings, its continued roadshow highlights efforts to diversify financing sources, including African and multilateral institutions. The African Development Bank (AfDB) has already expressed interest in supporting the project, according to Ecofin Agency.
Addressing concerns about Ethiopia’s macroeconomic challenges, including ongoing foreign-exchange shortages, Mesfin reassured potential lenders of Ethiopian Airlines’ strong financial position. “We generate 90% of our revenue in foreign currency… outside Ethiopia. So the impact of the currency exchange rate change doesn’t affect us so much,” he said, downplaying FX risks tied to the mega-project.
