Ethiopian, African Development Bank sign LoI for Abusera Airport

The African Development Bank and Ethiopian Airlines Group have signed a letter of intent for the development of the East African nation’s planned Abusera International Airport project.

The $7.8 billion project aims to address increasing passenger and cargo demands, reinforce Ethiopia’s position as a leading aviation hub, says an official release from African Development Bank.

Mesfin Tasew Bekele, Chief Executive Officer, Ethiopian Airlines Group signed the letter of intent with Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery, African Development Bank in Abidjan, the release added.

"The world-class international airport will be situated in Bishoftu, about 40 km from the current Addis Ababa Bole International Airport. The Abusera International Airport will complement Ethiopia’s recently expanded Bole International Airport, which is expected to reach its annual 25 million passenger capacity limit soon. The new infrastructure will enhance Ethiopian Airlines’ role in improving intra-Africa connectivity by enabling a more extensive and efficient network, and strengthening connectivity between Africa and the rest of the world."

Akinwumi Adesina, President, African Development Bank Group says: "The African Development Bank is fully committed to supporting this transformative flagship project, which will strengthen the continent’s aviation leadership and economic integration."

Ethiopian Airlines Group, Africa’s largest and most successful airline, is advancing its ambitious 2035 growth strategy, which emphasises network expansion, infrastructure development and human capital investment to enhance its global competitiveness. In the last fiscal year ended June 30, 2024, the airline reported revenue of $7.02 billion, an increase of 14 percent year-on-year, the release added.