African Development Bank commits $500 million to Ethiopia’s airport project

The African Development Bank (AfDB) has pledged $500 million to support the financing of Ethiopia’s new airport, which is slated to become the largest airport in Africa upon its completion in 2029. The $10 billion project is a major infrastructure milestone aimed at boosting regional connectivity and positioning Ethiopia as a key aviation hub on the continent.

According to Reuters, Ethiopian Airlines, the state-owned carrier, will contribute 20% of the total funding, while the remaining amount will be sourced from various creditors and investors. The new airport is expected to enhance Ethiopia’s role in international air travel, fostering economic growth and development through improved trade and tourism.