On Saturday, March 15, Ethiopian Airlines Group officially signed a letter of intent with the African Development Bank (AfDB), marking a crucial step towards the construction of the new "Bishoftu International Airport". The agreement provides for a total investment of 7.8 billion dollars, destined to transform the country's main air hub, namely the "Addis Ababa-Bole".

During the signing ceremony held in Addis Ababa, Ethiopian CEO Mesfin Tasew and AfDB Vice President for Regional Development Nnenna Nwabufo sealed the strategic partnership. The presence of AfDB President Akinwumi Adesina and Ethiopian Finance Minister Ahmed Shide underlined the strong institutional and government commitment to support the project.

The main objective of the initiative is to respond to the exponential increase in demand for air services, both international and domestic. Currently, the passenger traffic of the "Bole" International Airport stands at 17 million per year, but with the new project it is expected to exceed 60 million by 2040. This expansion will not only strengthen the position of Ethiopian Airlines as "a major player in air transport in Africa", a statement reports it, but will also represent a driver for economic growth and for the modernization of the entire transport system of the country.

Minister Ahmed Shide applauded the support offered by the AfDB, which includes a current investment portfolio of over $1.2 billion in strategic sectors for the country's development. Similarly, Akinwumi Adesina declared the full commitment of the African Development Bank, describing the project as a “flagship” for the entire continent. With an ambitious plan and robust financial support, the new "Bishoftu International Airport" is set to become a benchmark not only for the country, but for the entire African continent, fostering global connectivity and promoting regional economic development.