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Ethiopian Airlines, African Development Bank agree to work together on a mega airport to be built near Bishoftu.
Ethiopian Airlines and the African Development Bank have signed a memorandum of understanding to work together on a mega airport to be built near Bishoftu, Sputnik reported.
The massive project, estimated to cost $7.8 billion, is expected to increase the airline’s annual passenger capacity from 17 million to 60 million by 2040.
The agreement was signed by Ethiopian Airlines Group CEO Mesfin Tasew and African Development Bank Vice President for Regional Development, Connectivity and Strategy Nena Nwabufo.
The signing ceremony was attended by the Minister of Finance of the Federal Republic of Ethiopia, Ahmed Shide, who thanked the African Development Bank for the $1.2 billion it has provided to promote investment in Ethiopia so far and outlined the economic reforms of Prime Minister Abiy Ahmed.
The Minister requested additional support from the African Development Bank for Ethiopia’s ongoing economic reforms, regional integration, and renewable energy.
The President of the African Development Bank, Akinwumi Adesina, reaffirmed his commitment to supporting the airport project.
He praised Ethiopian Airlines as an “African icon,” Sputnik reported.
The President also praised Ethiopia’s progress and the transformation that Addis Ababa has been achieving under Dr. Abiy.
Ethiopia and the African Development Bank agreed to strengthen their partnership for the benefit of Ethiopia and the region.
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