The Ethiopian Airlines Group has officially appointed the African Development Bank (AfDB) as the mandated lead arranger to mobilize $8 billion in debt financing for the construction of the new Bishoftu International Airport in Addis Ababa, the capital of Ethiopia.
The mega project, with a total cost of $10 billion, is envisioned as Africa’s largest airport and a new global hub for Ethiopian Airlines.
The mandate letter was formally signed in Addis Ababa on Monday, August 11, 2025 by Ethiopian Airlines Chief Commercial Officer Lema Yadecha and African Development Bank President Dr. Akinwumi A. Adesina.
The ceremony was attended by Ethiopian Finance Minister Ahmed Shide and Board Chairman of Ethiopian Airlines Group, who is also the Commander of Ethiopian Air Force, Lieutenant General Yilma Merdassa, along with other dignitaries.
Finance Minister Ahmed Shide hailed the project as a critical gateway to progress and prosperity.
“This world-class airport will serve as a vital gateway to progress, to prosperity and to global and African connectivity,” he said.
The Minister emphasized that the new mega-airport, located in Abusera, Bishoftu, 40 kilometers southeast of Addis Ababa, will address the growing demand for air traffic and solidify Ethiopia’s position as a leading aviation hub.
“This transformative project will position Ethiopia among the world’s top 20 aviation hubs by 2035, with a world-class capacity to serve between 60 and 110 million passengers when fully developed in various phases,” he added.
President of the African Development Bank, Akinwumi A. Adesina, praised Ethiopia’s vision and ambition.
“Let’s think big. That’s one thing I like about Ethiopia, thinking big and doing big things,” Adesina stated.
He underscored the airport’s global significance.
“This airport will be a game-changer for transport in Africa, but not just in Africa. It will be a game-changer for transport globally.”
The current Board Chairman of Ethiopian Airlines Group, who is also the Commander of Ethiopian Air Force, Lieutenant General Yilma Merdassa, on his part, said the project, which we believe would make not only Ethiopia hub for Africa but a hub for the entire world, despite the existing contemporary challenges of the aviation industry in the globe.
According to him, ET has become African pride from time to time with a safety customer focus and profitability.
The Bishoftu International Airport project is a forward-looking initiative designed to enhance connectivity, build capacity, and shape a modern aviation landscape for the generation ahead, he elaborated.
Speaking at the signing ceremony, Ethiopian Airlines Chief Commercial Officer Lema Yadecha highlighted the project’s urgency and scale.
Source: ENA
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