Ethiopian Airlines Group (EAG) and the African Development Bank (AfDB) have signed a landmark mandate letter appointing the Bank as Initial Mandated Lead Arranger (IMLA) for financing the airline’s new mega airport in Bishoftu, Ethiopia. The agreement follows a Letter of Intent signed on 24 March 2025 and marks a decisive step toward realising Africa’s most ambitious aviation infrastructure project.
Under the mandate, AfDB will provide a USD 500 million loan and lead the mobilisation of additional financing. Located 40 kilometres south of Addis Ababa in Abusera, the greenfield airport will have an initial capacity of 60 million passengers annually, expandable to 110 million, making it the largest in Africa and one of the top hubs globally.
Ethiopian Airlines Group CEO Mesfin Tasew described the project as a “world-class pan-African gateway” that will boost trade, integration, tourism, and global connectivity, while continuing the airline’s leadership in advancing the continent’s aviation sector. AfDB President Dr. Akinwumi Adesina called the signing “a transformative moment” for Ethiopian Airlines, Ethiopia, and Africa as a whole.
Aligned with the African Union’s Agenda 2063 and the Single African Air Transport Market (SAATM), the project will complement Addis Ababa Bole International Airport, which will retain domestic operations, while the new hub becomes the centre for international passenger and cargo traffic. An associated aerotropolis will enhance logistics capacity, stimulate regional development, and create tens of thousands of jobs.
Ethiopian Airlines, Africa’s largest and most successful carrier, is pursuing its 2040 growth strategy focused on network expansion, infrastructure development, and human capital investment. In the fiscal year ending 30 June 2025, the airline reported record revenues of USD 7.6 billion, an 8% year-on-year increase, carrying 19 million passengers—15.1 million on international routes and 3.9 million domestically.
SOURCE AND IMAGE: ETHIOPIAN AIRLINES GROUP
