AfDB to Mobilise $8B for Ethiopia’s Mega Bishoftu International Airport
The President of the African Development Bank Group (AfDB), Dr Akinwumi Adesina, has pledged the Bank’s full backing for Ethiopia’s ambitious new Bishoftu International Airport, hailing it as a “game changer” for African and global aviation.
Speaking at a signing ceremony in Addis Ababa, Dr Adesina confirmed that the AfDB has been appointed Mandated Lead Arranger, Global Coordinator and Book Runner to raise $8 billion in debt financing towards the project’s estimated $10 billion cost. The Bank itself will provide up to $500 million in direct financing.
The mega airport, to be constructed in Bishoftu, will initially handle 60 million passengers annually, expanding to 110 million in its second phase, alongside facilities for 3.7 million tonnes of cargo and parking for 270 aircraft. Ethiopian Airlines, Africa’s flagship carrier, is expected to benefit from a 15% reduction in fuel consumption with the new hub.
Dr Adesina praised Ethiopian Airlines’ resilience and innovation, noting its record $7.2 billion revenue in 2024 and a 24% increase in passenger numbers to 19 million. “Ethiopian Airlines makes Africa proud. Even during the pandemic, when many global carriers grounded their fleets, it kept Africa connected,” he said.
He commended Prime Minister Abiy Ahmed’s leadership and Ethiopia’s rapid progress in relocating and compensating the 2,800 households affected by the project. “Speed and scale are the hallmarks of Ethiopia’s transformation, and the Bishoftu airport reflects that vision,” he added.
The AfDB has been a long-standing partner of Ethiopian Airlines, providing a $160 million corporate loan in 2016 to support fleet expansion. Today, the airline is on course to increase its fleet to 240 aircraft, further cementing its dominance in African aviation.
Dr Adesina also reflected on his decade at the helm of the AfDB, marking the Bishoftu airport deal as a fitting milestone ahead of his departure in September. “I look forward to flying back one day and landing at Bishoftu International Airport. What a great day that will be,” he said.
