Ethiopia has launched its $10 billion Bishoftu International Airport dream  project  in conjuction with the African Development Bank AFDB as the initial mandated lead arranger, global coordinator, and book runner to mobilise nearly $8 billion of the required financing.

The new airport which is strategicaly  located 40 kilometres south of Addis Ababa, will have the capacity to handle 3.73 million tonnes of cargo annually, alongside large-scale passenger operations.

The  Africa Development Bank is set to provide $500 million in financing, subject to Board approval. The mandate letter was signed by Ethiopian Airlines Group Chief Commercial Officer Lemma Yadecha and African Development Bank Group President Dr. Akinwumi Adesina, in the presence of Ethiopia’s Minister of Finance Ahmed Shide.

Adesina said the Bank is proud to support Ethiopia in expanding the operational and fleet capacity of Ethiopian Airlines, praising the airline’s globally rated cargo facilities. He described the partnership as a union between Africa’s largest airline and the continent’s biggest infrastructure financier to deliver a “game changer” for African and global aviation