Ethiopian Airlines Group and the African Development Bank have signed a mandate letter appointing the Bank as Initial Mandated Lead Arranger for the financing of Africa’s largest aviation infrastructure project as a new USD 5 billion mega airport in Bishoftu, Ethiopia. Building on a Letter of Intent signed in March 2025, the Bank will provide USD 500 million in loans and lead efforts to mobilize the remaining funds for the greenfield facility, which will open with a 60 million passenger capacity and expand to 110 million, making it the continent’s largest and a top global hub. Located 40 km south of Addis Ababa, the airport will complement Bole International Airport’s domestic services and serve as a catalyst for regional integration, trade, tourism, and job creation. The agreement marks a decisive step toward creating a world-class pan-African gateway and is seen as a transformative moment for African aviation. The project supports the African Union’s Agenda 2063 and the Single African Air Transport Market, reinforcing the Bank’s role in structuring strategic infrastructure investments. The airline, pursuing its 2040 growth strategy, recently reported record revenues of USD 7.6 billion and passenger traffic of 19 million in the 2024/25 fiscal year.
