What: Ceremonial signing as mandated lead arranger for the mobilization of financing for Bishoftu International Airport in Ethiopia.
Who: Ethiopian Finance Minister, Hon. Ahmed Shide, and African Development Bank Group President, Dr. Akinwumi Adesina
When: Monday, 11 August 2025; 11:30 a.m. EAT
Where: Skylight Hotel, Addis Ababa, Ethiopia
Ethiopian Finance Minister, Hon. Ahmed Shide, and African Development Bank Group President, Dr. Akinwumi Adesina, will attend a ceremonial signing appointing the Bank as initial mandated lead arranger, global coordinator and bookrunner to mobilize financing for the new Bishoftu International Airport.
Mesfin Tasew, CEO of Ethiopian Airlines Group and Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization at the African Development Bank Group will sign the document.
The construction of the Bishoftu International Airport, which upon completion will be Ethiopian Airlines’ new global hub and Africa’s largest airport, will cost a total of $10 billion. Under the agreement to be signed, the Bank will lead resource mobilization efforts to raise debt financing of up to $8 billion. The Bank has itself earmarked up to $500 million, subject to Board approval, to anchor the funding of this transformational regional integration project.
Serving over 145 international destinations, Ethiopian Airlines Group, Africa’s largest and most successful airline with over 79 years of operations, views the new airport as a cornerstone of its Vision 2040 growth strategy.
The project also aligns with the African Union’s Agenda 2063 and the African Single Air Transport Market, both of which promote enhanced continental integration and connectivity.
Located in Abusera, 40 kilometres south of Addis Ababa, the proposed Bishoftu International Airport will have an initial capacity of 60 million passengers annually, expanding to 110 million passengers at full capacity.
The new airport project emphasizes network expansion, infrastructure development, and human capital investment to address current capacity constraints at Ethiopia’s current Bole International Airport, and enhance global competitiveness.
The appointment of the African Development Bank as mandated lead arranger reflects its catalytic role in advancing strategic infrastructure projects across the continent, and its proven leadership in supporting African champions and promoting regional integration.
Construction of the airport’s first phase will begin in late 2025. Once operational, it will be one of Africa’s prime aviation hubs for international, regional, and cargo traffic, complementing the existing Bole International Airport in Addis Ababa, which will shift its focus to domestic operations.
