AfDB Pledges Funds for New Addis Airport

‍DALLAS — The African Development Bank (AfDB) has agreed to support Ethiopia in building its new US$7.8 billion international airport.

Ethiopia’s finance minister, Ahmed Shide, has welcomed the AfDB’s commitment to financially support the country’s new international airport, which will become the hub for the country’s flag carrier, Ethiopian Airlines (ET).

While the bank's pledged amount is not yet known, globalconstructionreview.com says it is expected to be significant since the new airport facility costs billions. Shide praised the AfDB for its comprehensive support but did not state how much the bank would lend the country.

A New Addis Airport

The new airport will be near Bishoftu, around 20 kilometers southeast of Addis Ababa. Once complete, the facility will become ET’s new hub. The airport will handle 60 million passengers annually, making Ethiopia Africa’s largest aviation hub. Completion of the new facility is expected in around 2040.

Addis Ababa is currently served by Bole International Airport (ADD), which opened in 1962. The airport has an annual capacity of around 22 million passengers. However, with a projected 6% annual passenger increase, ADD’s capacity will soon be reached. Hence the need for a larger airport.

Ethiopia recorded economic growth of over 8% last year. With such growth, the country seeks to invest in its infrastructure. AfDB president Akinwumi Adesina has expressed commitment to supporting the new airport and praised Ethiopia for its development of over 8% in 2024. 

That said, Ethiopia is also looking to transform its energy generation into more sustainable methods. Shide has also asked the AfDB to support the country’s projects in renewable energy and regional integration.

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