In a historic move set to reshape Africa’s aviation sector, Ethiopian Airlines Group (EAG) and the African Development Bank (AfDB) have signed a landmark mandate letter, appointing AfDB as the Initial Mandated Lead Arranger (IMLA) for financing the continent’s largest aviation infrastructure project a state-of-the-art greenfield airport in Bishoftu, Ethiopia. Building on a Letter of Intent signed in March 2025, AfDB will provide an initial USD 500 million loan and lead efforts to mobilize the remaining funds necessary for the project, which will initially handle 60 million passengers annually, with future expansion to 110 million. Located 40 km south of Addis Ababa in Abusera, the mega airport will complement Bole International Airport and serve as the primary hub for all international passenger and cargo operations, anchoring an aerotropolis that will boost regional development, create tens of thousands of jobs, and strengthen Africa’s role in global aviation. Ethiopian Airlines Group CEO Mesfin Tasew emphasized the partnership’s role in enhancing intra-African trade, regional integration, tourism, and global connectivity. AfDB President Dr. Akinwumi Adesina hailed the deal as a milestone in African-led infrastructure development aligned with the African Union’s Agenda 2063 and the Single African Air Transport Market (SAATM). The initiative underscores Ethiopian Airlines’ ambitious Vision 2040 growth strategy, which delivered record revenues of USD 7.6 billion in FY2025, with 19 million passengers transported, cementing its position as Africa’s largest and most successful airline.
