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Ethiopia’s ambitious plan to build Africa’s largest airport took a significant step forward as top government officials and the African Development Bank (AfDB) finalized a pivotal financing agreement. On Monday, 11 August 2025, Ethiopian Finance Minister Ahmed Shide and AfDB President Dr. Akinwumi Adesina presided over a ceremonial signing at Addis Ababa’s Skylight Hotel, designating the Bank as the lead arranger to mobilize up to $8 billion in debt financing for the $10 billion Bishoftu International Airport project.

The agreement, signed by Ethiopian Airlines CEO Mesfin Tasew and AfDB Vice President Solomon Quaynor, positions the Bank as the global coordinator and bookrunner for the initiative. The AfDB has committed up to $500 million of its own funds, pending board approval, to anchor the financing package. Once completed, the airport will serve as Ethiopian Airlines’ new global hub, replacing Addis Ababa’s overstretched Bole International Airport, which will transition to domestic operations.

Slated for construction in Abusera, 40 kilometers south of the capital, Bishoftu International Airport will initially handle 60 million passengers annually, scaling to 110 million at full capacity. The project aims to alleviate congestion at Bole, which has struggled to keep pace with Ethiopia’s rapid aviation growth. Ethiopian Airlines, Africa’s largest carrier with 79 years of operations and 145 global destinations, views the airport as central to its Vision 2040 strategy, which prioritizes infrastructure expansion and enhanced competitiveness.

The initiative aligns with broader continental goals, including the African Union’s Agenda 2063 and the Single African Air Transport Market, both designed to boost intra-African connectivity. Dr. Adesina emphasized the AfDB’s role in advancing “transformational infrastructure” to foster regional integration, citing the airport’s potential to become a premier hub for international, regional, and cargo traffic.

Phase one construction is set to begin in late 2025, with the airport expected to strengthen Ethiopia’s position as a global aviation player while supporting job creation and skill development. The project underscores the AfDB’s growing influence in financing strategic African infrastructure, leveraging partnerships to address the continent’s $68–$108 billion annual infrastructure deficit. As Bishoftu takes shape, its success could set a precedent for large-scale, pan-African collaborations aimed at closing critical development gaps.