Ethiopia and AfDB Partner on $7.8 Billion Airport, Africa’s Biggest
Ethiopian Airlines, one of Africa’s top airlines, situated primarily in Ethiopia, recently signed a deal with the African Development Bank to work on an airport project.
Both parties inked a memorandum of understanding concerning the Bishoftu International Airport Development Project in Ethiopia.
The signing was spearheaded by Mr. Mesfin Tasew, Ethiopian Airlines Group CEO, and Mrs. Nnenna Nwabufo, Vice President for Regional Development, Integration, and Strategy, representing the African Development Bank (AfDB), in the presence of AfDB president Dr. Akinwumi Adesina.
To meet the increasing demand for passengers and cargo, Ethiopian Airlines initiated the $7.8 billion project.
During the signing event, Ethiopian Finance Minister Ahmed Shide emphasized Prime Minister Abiy Ahmed’s economic reforms and praised the AfDB for its support, which included $1.2 billion in investments.
This new airport will be built in the Oromia region’s Abusera, close to Bishoftu.
Outside the partnership on the new airport project, Ahmed Shide asked the development Bank to assist the macroeconomic reform program and transformative projects related to renewable energy and regional integration, among other things.
Dr. Akinwumi Adesina, applauded the Ethiopian Government for its 8.1% GDP growth in the past year and the explosive growth of Addis Ababa under Prime Minister Abiy Ahmed’s (PhD) leadership.
He emphasized the Bank’s total dedication to supporting the new airport development project, which the president called an African flagship project.
Through strategic and creative activities that benefit all Ethiopians and the region as a whole, the two parties committed to strengthening their already solid alliance.
With a vast network throughout Africa that makes it easier to transport people, Ethiopian Airlines is a prominent airline in Africa that has a big influence on regional trade, economy, and tourism.
