The Bank will provide a loan of $500 million and lead the mobilisation of the remaining amount, for financing the development of the new airport in Bishoftu.
Ethiopian Airlines Group and the African Development Bank (AfDB) have signed a mandate letter appointing AfDB as Initial Mandated Lead Arranger (IMLA) to finance Ethiopian Airlines’ new mega-airport in Bishoftu. The Bank will provide a $500 million loan and spearhead efforts to mobilise the remaining financing.
Under the agreement, the new facility will complement Addis Ababa’s Bole International Airport by serving as a dedicated hub for international passenger and cargo traffic. The development is part of a broader “aerotropolis” plan that aims to spur regional development, enhance logistics, and generate tens of thousands of jobs.
Ethiopian Airlines Group CEO Mesfin Tasew said: “We are pleased to partner with the African Development Bank in arranging the required financing for the development of this iconic aviation infrastructure. The signing of this mandate letter marks a decisive step toward realizing a world-class pan-African gateway…”
AfDB President Akinwumi Adesina described the development as “a proud moment for African aviation and infrastructure,” highlighting its significance for intra-African trade, regional integration, and global connectivity.