The African Development Bank will provide funds for the construction of an airport in Ethiopia
The African Development Bank and the Ethiopian Airlines Group have signed a partnership agreement. The parties plan to jointly implement a major infrastructure project – the construction of the Abusera International Airport in Ethiopia. The total investment in the facility will amount to US$7.8 billion.
Goals and significance of the project
The initiative aims to expand the activities of the country’s main airport. Demand for both passenger and cargo traffic has grown steadily in recent years, boosting the local aviation sector. Moreover, Ethiopia is one of the most important aviation hubs in the region. The construction of the airport could therefore become a powerful growth driver for the country’s economy.
The project involves the construction of another world-class airport. It will be located in the city of Bishoftu, 40 kilometres from the current terminal in the capital.
Addis Ababa currently has Bole Airport, which was recently upgraded. The terminal has significantly increased its capacity through infrastructure upgrades. However, the rapid growth in passenger and cargo traffic is putting considerable strain on the airport. Analysts estimate that Bole’s capacity is close to its annual limit of 25 million passengers. This limits the further development of air traffic through the capital.
Mesfin Tasev Bekele of Ethiopian Airlines reports that the new project will strengthen the airline’s position in the region. Another international airport will make a significant contribution to improving air transport within the African continent. The region will be able to strengthen its competitiveness on the world stage. Africa, in turn, will benefit from modern infrastructure and an efficient air transport network.
Support from the African Development Bank
African Bank is optimistic about its partnership with Ethiopian Airlines. According to the Bank’s experts, Ethiopia has a high development potential and will be able to provide a high level of service. The project is a flagship for the country. It promotes economic integration and sector development.
The Bank also notes the important role of Ethiopian Airlines in the implementation of the project. The company is the largest in Africa and operates successfully throughout the continent. In addition to passenger and cargo operations in the region, it is modernising its main hubs. This allows it to regularly improve service levels and attract new customers.
Overview of Ethiopian Airlines
The construction of a new airport in Ethiopia is part of Ethiopian Airlines’ strategic development plan until 2035. As part of this programme, the company is implementing a number of important tasks, including:
– expansion of infrastructure and air network throughout the region;
– training and professional development of staff to improve service;
– modernising terminals and expanding their capacity;
– implementation of measures to improve global competitiveness.
Ethiopian Airlines’ revenues for the financial year 2024 totalled more than US$7 billion, a record for the company. The operator carried around 17 million passengers on domestic and international routes during the period.
