The African Development Bank will provide $500 million in funding for Ethiopia’s new airport project, expected to be Africa’s largest when completed in 2029.
The bank’s contribution is subject to board approval and aims to support the project’s regional integration goals.
State-owned Ethiopian Airlines has signed an agreement for the design of the four-runway airport near Bishoftu, 45 kilometers southeast of Addis Ababa.
The $10 billion project will have the capacity to handle 100 million passengers annually, with Ethiopian Airlines covering 20% of the costs and the remaining amount coming from creditors.
The African Development Bank is leading efforts to raise $7.8 billion for the project.
