The African Development Bank will provide up to $500 million for Ethiopia’s new $10 billion airport, set to become Africa’s largest when it opens in 2029.
State-owned Ethiopian Airlines has signed a design agreement for the four-runway facility in Bishoftu, 45 km (28 miles) southeast of Addis Ababa. The airline will fund 20% of the project, with the remainder coming from creditors.
The AfDB said its contribution, pending board approval, will anchor financing for the “transformational regional integration project.” Last week, the bank announced it was leading efforts to raise $7.8 billion in additional funding. The airport is designed to handle 100 million passengers annually.
