AfDB Commits $500 Million to Ethiopia’s Planned Mega Airport Project

ADDIS ABABA – The African Development Bank (AfDB) has pledged $500 million towards the construction of Ethiopia’s ambitious new international airport, a project expected to become the largest in Africa upon completion in 2029 The financing agreement was signed on Monday in Addis Ababa between AfDB President Dr Akinwumi Adesina and Ethiopian Airlines Chief Commercial Officer Lemma Yadecha The deal will support the development of the Abusera Mega Airport, to be built near Bishoftu, about 45 kilometres southeast of the Ethiopian capital The planned facility will feature four runways, a state-of-the-art passenger terminal, and advanced cargo handling capabilities, positioning Ethiopia as a major global aviation hub Ethiopian Airlines, Africa’s largest and most profitable carrier, has said the airport will significantly expand its capacity, enabling it to handle up to 100 million passengers and 4 million tonnes of cargo annually Dr Adesina hailed the agreement as a milestone in Africa’s infrastructure development, noting that improved air transport connectivity is key to unlocking trade, tourism, and investment across the continent “This project will not only transform Ethiopia’s aviation sector but also boost regional integration and economic growth,” he said Ethiopian Airlines CEO Mesfin Tasew previously indicated that the Abusera Mega Airport will help alleviate congestion at Addis Ababa’s Bole International Airport, which is currently operating near maximum capacity The project is part of the airline’s broader expansion strategy aimed at strengthening its position as a global carrier Construction is set to begin later this year, with funding expected to be drawn from multiple sources, including the AfDB loan, Ethiopian government contributions, and potential private sector investment Once operational, the facility is anticipated to create tens of thousands of jobs, both directly in airport operations and indirectly through related industries such as tourism, hospitality, and logistics Analysts say the mega project underscores Ethiopia’s determination to cement its role as a leading player in African aviation, even as the country continues to navigate economic and political challenges – Reuters Originally published on The Zimbabwe Mail All Zim News is a central hub for all things Zimbabwean, curating news from across the country so no story is missed Alongside aggregation, our team of nationwide reporters provides real-time, on-the-ground coverage Stay informed and connected — reach us at admin@allzimnews.com . Source: Thezimbabwemail