Ethiopian Airlines, a leading African carrier, has partnered with the African Development Bank (AfDB) to develop the ambitious Bishoftu International Airport, a project valued at $7.8 billion. The agreement, formalized through a memorandum of understanding, aims to significantly boost Ethiopia’s aviation capacity.
The project, slated for completion by 2040, will expand the airport’s capacity to handle 60 million passengers annually, a substantial increase from the current 17 million. The new facility will be located in Abusera, near Bishoftu in the Oromia region.
The signing ceremony, attended by key figures including Ethiopian Airlines Group CEO Mesfin Tasew, AfDB Vice President Nnenna Nwabufo, and AfDB President Dr. Akinwumi Adesina, underscores the strategic importance of the project. Ethiopian Finance Minister Ahmed Shide highlighted the AfDB’s crucial support, noting $1.2 billion in investments dedicated to the airport’s development.
“This is a flagship African project,” emphasized Dr. Adesina, praising Ethiopia’s 8.1% GDP growth and the rapid development of Addis Ababa under Prime Minister Abiy Ahmed. He reaffirmed the AfDB’s commitment to the project, recognizing its potential to drive regional economic growth and integration.
Beyond the airport initiative, Finance Minister Ahmed Shide requested further AfDB assistance for Ethiopia’s macroeconomic reform program and transformative projects in renewable energy and regional connectivity.
The partnership reinforces the strong relationship between Ethiopian Airlines and the AfDB, with both parties pledging to strengthen their collaboration through strategic initiatives that benefit Ethiopia and the broader region. Ethiopian Airlines, with its extensive African network, plays a vital role in facilitating trade, economic development, and tourism across the continent.
Source: Business Insider Africa
