HornCurrent.com — The African Development Bank (AfDB) announced on Monday that it will provide up to $500 million in financing for Ethiopia’s upcoming mega airport, projected to be the largest in Africa upon its completion in 2029.
The new facility will be located near Bishoftu, approximately 45 km southeast of the capital Addis Ababa, and will feature four runways. State-owned Ethiopian Airlines has signed an agreement for the airport’s design, committing to cover 20% of the $10 billion project cost, with the remainder to be sourced from creditors.
“The Bank has itself earmarked up to $500 million, subject to board approval, to anchor the funding of this transformational regional integration project,” AfDB said in its statement.
Once completed, the airport is expected to significantly expand Ethiopia’s aviation capacity, strengthen Addis Ababa’s position as a regional transport hub, and boost connectivity across Africa and beyond.
Source: Reuters