Nigeria: AfDB, Ethiopian Airline Sign Letter of Intent for Airport Financing

28 March 2025
Vanguard (Lagos)
By Jimoh Babatunde

The African Development Bank and Ethiopian Airlines Group have signed a Letter of Intent for the development of the East African nation's planned Abusera International Airport Project.

The $7.8 billion project aims to address increasing passenger and cargo demands, reinforce Ethiopia's position as a leading aviation hub, and stimulate regional economic growth.

Chief Executive Officer of Ethiopian Airlines Group Mesfin Tasew Bekele signed the Letter of Intent with African Development Bank Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo, at the Bank's headquarters in Abidjan recently.

The new world-class international airport will be situated in Bishoftu, about 40 km from the current Addis-Ababa Bole International Airport.

The new Abusera International Airport will complement Ethiopia's recently expanded Bole International Airport, which is expected to reach its annual 25 million passenger capacity limit soon. The new infrastructure will enhance Ethiopian Airlines' role in improving intra-Africa connectivity by enabling a more extensive and efficient network, and strengthening connectivity between Africa and the rest of the world.

Speaking at a meeting with the Ethiopian delegation led by Finance Minister Ahmed Shide, At a meeting with the delegation, the President of the African Development Bank Group, Dr. Akinwumi Adesina, said, "I'm a great friend of Ethiopia, and of course, Ethiopian Airlines is Africa's pride, a symbol of excellence and resilience.

"The African Development Bank is fully committed to supporting this transformative flagship project, which will strengthen the continent's aviation leadership and economic integration."

Responding Ethiopian Finance Minister Ahmed Shide said "Today's signing of the Letter of Intent for the new mega airport development project is yet another testament to AfDB's commitment to supporting Ethiopia's ambitious flagship air transport project that will not only reinforce Ethiopian Airlines' competitive edge in passenger and cargo services, but also enhance Africa's global air connectivity and integration, solidifying the continent's aviation hub status."

Ethiopian Airlines Group, Africa's largest and most successful airline, is advancing its ambitious 2035 growth strategy, which emphasizes network expansion, infrastructure development, and human capital investment to enhance its global competitiveness.

Read the original article on Vanguard.

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