Ethiopia mega airport plan receives another boost
The African Development Bank (AfDB) has agreed to allocate 500 million dollars to fund a new mega airport in Ethiopia, according to Africanews on August 12th.
Ethiopian Airlines Group Chief Commercial Officer Lemma Yadecha, along with AfDB President Akinwumi Adesina, signed an agreement appointing AfDB as Mandated Lead Arranger. The bank will spearhead efforts to raise up to $8 billion for the airport’s construction.
The new travel hub, which will be situated approximately 40 kilometres away from the Ethiopian capital, Addis Ababa, is expected to become the largest airport in Africa.
Ethiopia’s Finance Minister Ahmed Shide declared, “This world-class airport will serve as a vital gateway to progress and prosperity.” He further claimed the project would facilitate Ethiopia’s position as “among the world’s top 20 aviation hubs by 2035”.
State-owned company Ethiopian Airlines will contribute 20% of the project’s total funding, which is projected to reach $10 billion.
A new major international airport is necessary to reduce the strain on the existing Addis Ababa Bole International Airport, which is operating close to its 25 million passenger capacity.
The future mega airport, named Bishoftu International Airport, is expected to help double the country’s current tourist inflow, with the initial phase of opening forecast to have an annual capacity of 60 million passengers.
Ethiopia hopes that this expansion in aviation capacity will enable it to compete with other huge regional hubs such as Casablanca, which recently announced it was looking to expand its capacity ahead of the 2030 World Cup.
Authorities also hope the new airport will compete with other rivals such as Dubai and Johannesburg, as a potential second phase of building could increase the annual capacity up to 110 million passengers.
These actions mirror the trend of other African nations investing in their aviation sector, seeking to boost tourism and economic development. Libya has recently signed contracts to boost investment for eight airports, and Morocco is establishing new commercial flight routes to encourage tourism.
Construction of the Bishoftu International Airport is expected to be complete in 2029.
Africanews, Maghrebi.org
Want to chase the pulse of North Africa?
Subscribe to receive our FREE weekly PDF magazine
