The African Development Bank (AfDB) has pledged a $500 million loan towards Ethiopia’s new $10 billion international airport in Bishoftu, southeast of Addis Ababa.
The financing deal, signed on 11 August between AfDB President Akinwumi Adesina and Ethiopian Airlines Chief Commercial Officer Nesfin Tasew Bekele, is designed to “anchor financing” and attract other creditors to the ambitious project, which the bank calls a “key driver of regional integration”. Ethiopian Airlines has already committed $2 billion to the development and has begun relocating farming communities from the project site.
Set to replace the over-capacity Bole International Airport, the Bishoftu facility—scheduled for completion in 2029—will increase passenger capacity from 25 million to 110 million annually. This expansion positions Ethiopia to compete with major hubs such as Dubai, Casablanca, and Johannesburg, with the government aiming to double tourist arrivals within the next decade. The AfDB hopes its early financial backing will help secure the remaining $8 billion needed to bring the project to fruition.