AfDB to lead $7.8bn funding drive for Ethiopia’s new airport

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In a statement, the AfDB said its role as lead arranger “reflects its catalytic role in advancing strategic infrastructure across the continent and its proven leadership in structuring complex transactions.”

Airport design and funding

Ethiopian Airlines, the state-owned carrier, signed an agreement for the design of the four-runway airport near Bishoftu, approximately 45 km southeast of Addis Ababa.

CEO Mesfin Tasew revealed the project’s total cost at $10bn, with the airline providing 20% of the funding and the remaining amount to come from creditors.

Capacity pressures at current hub

Last year, Tasew warned that Bole Addis Ababa International Airport, Ethiopia’s current main hub and Africa’s busiest airport, would soon reach its 25 million passengers per year capacity.