Nwali Chidozie
The Africa development bank group (AfDB) will serve as “the Mandated Lead Arranger for the financing of Bishoftu International Airport – set to become Africa’s largest airport upon completion.”
According to a statement from the bank on Thursday, under the arrangement AfDB will mobilize resources for the $7.8billion project, from both domestic and international partners.
“The appointment of the African Development Bank as lead arranger reflects its catalytic role in advancing strategic infrastructure across the continent and its proven leadership in structuring complex transactions.”
AfDB noted.
Located in Abusera, 40 kilometres south of Addis Ababa, the proposed Bishoftu International Airport will have an initial capacity to handle 60 million passengers annually, expanding to 110 million passengers at full capacity – outpacing Cairo International Airport (CAI) in Egypt —Africa’s busiest airport which currently carries 18-29million passengers yearly.
The project will aid in the expansion of Ethiopian Airlines Group, Africa’s largest and most successful airline, and it also aligns with the African Union’s Agenda 2063 and the African Single Air Transport Market, both of which promote enhanced continental integration and connectivity.
Construction is expected to commence by late 2025. Once operational, it will be one of Africa’s prime aviation hubs for international, regional, and cargo traffic, complementing the existing Bole International Airport in Addis Ababa, which will shift its focus to domestic operations.
