Ethiopian Airlines has signed a memorandum of understanding with the African Development Bank (AfDB) to collaborate on the Bishoftu International Airport Development Project, a major infrastructure initiative aimed at boosting Ethiopia’s aviation capacity.
The agreement was signed by Ethiopian Airlines Group CEO Mesfin Tasew and AfDB Vice President for Regional Development, Integration, and Strategy, Nnenna Nwabufo, in the presence of AfDB President Dr. Akinwumi Adesina.
With a projected cost of $7.8 billion, the new airport is designed to accommodate Ethiopia’s growing passenger and cargo demands. By 2040, it is expected to handle 60 million passengers annually, up from the current 17 million, according to Fana Broadcasting.
Ethiopia’s Finance Minister Ahmed Shide highlighted Prime Minister Abiy Ahmed’s economic reforms during the signing event and commended AfDB for its support, including $1.2 billion in investments. The new airport will be built in Abusera, Oromia, near Bishoftu.
Beyond the airport project, Shide urged AfDB to support Ethiopia’s macroeconomic reform program and transformative initiatives in renewable energy and regional integration.
Dr. Adesina praised Ethiopia’s strong economic growth, citing an 8.1% GDP increase in the past year and Addis Ababa’s rapid development under Prime Minister Abiy Ahmed.
He reaffirmed AfDB’s full commitment to the new airport, calling it an African flagship project.
Ethiopian Airlines, a dominant force in African aviation, continues to strengthen its influence on regional trade, economy, and tourism through strategic partnerships and infrastructure expansion.
