AfDB Pledges to Help Ethiopia With New $7.8bn Airport

Wedoany.com Report-Mar 18, The African Development Bank (AfDB) has signed an agreement with Ethiopia to “collaborate” on the construction of a $7.8bn international airport in Addis Ababa. 

Bole International Airport was expanded in 2018

Ethiopia’s finance minister Ahmed Shide praised the AfDB’s “comprehensive support”, but didn’t say how much the bank would grant or lend.

He also urged the bank to support Ethiopia’s projects in renewable energy and regional integration.

AfDB president Akinwumi Adesina expressed the bank’s “full commitment” to supporting the airport, and praised Ethiopia for an economic growth rate of more than 8% in 2024.

The airport will be built near Bishoftu, about 20km southeast of Addis Ababa.

When finished around 2040, it will handle 60 million passengers a year, making Ethiopia northeast Africa’s main aviation hub.

Now, Addis Ababa is served by Bole International Airport, opened in 1962, and recently expanded by China Communications.

It has an annual capacity of around 22 million passengers, but a projected 6% annual increase in tourists means that capacity will soon be reached.