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The African Development Bank (AfDB) has announced plans to contribute up to $500 million towards building a new international airport in Ethiopia, which is expected to become the largest in Africa when completed in 2029.
The project will be located near Bishoftu, a town about 45 kilometers southeast of Ethiopia’s capital, Addis Ababa. State-owned Ethiopian Airlines, the country’s national carrier, has signed an agreement for the airport’s design. According to the airline, the facility will feature four runways and have the capacity to handle 100 million passengers annually, making it a major aviation hub for the continent.
Ethiopian Airlines has committed to providing 20% of the total $10 billion needed for the project. The remaining funds will be secured from various creditors, with the African Development Bank playing a central role in mobilizing the resources. The bank’s $500 million pledge is still subject to board approval but is expected to serve as an “anchor” investment, helping attract other financiers to the project.
Last week, the AfDB revealed it is leading efforts to raise $7.8 billion in additional funding for the airport. This massive fundraising effort highlights the scale and ambition of the project, which the bank describes as a “transformational regional integration initiative.”
Once completed, the new Bishoftu airport will significantly boost Ethiopia’s aviation capacity, surpassing the limits of the current Addis Ababa Bole International Airport, which has already undergone multiple expansions to meet growing passenger demand. The new facility is expected to strengthen Ethiopian Airlines’ position as one of Africa’s leading carriers and enhance Ethiopia’s role as a key transit hub between Africa, Europe, Asia, and the Middle East.
The project is also expected to create thousands of jobs during the construction phase and support long-term employment opportunities in operations, maintenance, retail, and tourism-related sectors once the airport is operational. In addition, improved connectivity is anticipated to benefit trade, investment, and tourism not only in Ethiopia but across the region.
The African Development Bank has emphasized that the new airport is more than just an infrastructure project. It sees the development as a critical part of Africa’s broader economic integration efforts, enabling smoother travel and stronger business ties between African countries. The bank also expects the project to boost Ethiopia’s economic growth by attracting more international visitors and making the country a preferred destination for global airlines.
Ethiopian Airlines has a strong track record of growth and expansion, and its leadership believes the new airport will ensure it can continue to compete at the highest levels in the global aviation industry. With the AfDB’s financial backing and its role in coordinating funding from other sources, the project is moving forward as one of the largest aviation infrastructure investments in Africa’s history.
If all goes according to plan, by 2029 Ethiopia will be home to Africa’s largest airport—a modern facility capable of handling 100 million passengers a year and reshaping the continent’s air travel landscape.