The African Development Bank (AfDB) Group has announced that it will lead efforts to secure $7.8 billion in funding for Ethiopia’s new airport project.
The Group said it will sign an agreement with Ethiopian Airlines Group designating the Bank as the Mandated Lead Arranger for funding the Bishoftu International Airport.
Under the agreement, the Bank will lead efforts to mobilize S6.2 billion for the proposed infrastructure. Once complete, Bishoftu International Airport will be Africa’s largest airport.
Situated in Abusera, south of Addis Ababa, the new airport will initially handle 60 million passengers annually; its full capacity is expected to reach 110 million passengers yearly.
The project will cost around $10 billion, according to Ethiopian Airlines’ officials. The airline will cover 20% of the costs, with the remaining 80% to be secured through external financing.
According to the African Development Bank Group, the bank’s appointment as lead arranger highlights its critical role in supporting strategic infrastructure across the continent, as well as its leadership in facilitating complex transactions.
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