The African Development Bank (AfDB) has committed $500 million to support the construction of a new mega airport in Ethiopia, a project poised to become Africa’s largest aviation hub. The bank will also spearhead efforts to secure up to $8 billion in additional funding for the ambitious infrastructure development.
Announced on Monday, the initiative aims to address the growing capacity constraints at Addis Ababa Bole International Airport, which currently handles up to 25 million passengers annually but is nearing its operational limit. The new airport, projected to cost $10 billion, will be partially financed by Ethiopian Airlines, the state-owned carrier, which will contribute 20% of the total funding.
A Gateway to Boost Tourism and Regional Competition
Located approximately 40 kilometers from the capital, the new airport is expected to accommodate 110 million passengers per year at full capacity—more than quadrupling Ethiopia’s current aviation throughput. Authorities anticipate the hub will double the country’s tourist inflow and strengthen its position as a key transit point, competing with major airports in Dubai, Casablanca, and Johannesburg.
Construction Timeline and Economic Impact
Construction is slated to begin in November 2024, with completion targeted for 2029. The project is expected to generate significant economic benefits, including job creation and enhanced connectivity for trade and tourism.
“This investment underscores Ethiopia’s strategic role in Africa’s aviation sector,” said an AfDB representative. “The new airport will not only alleviate congestion but also position Ethiopia as a leading global aviation hub.”
With Ethiopian Airlines expanding its fleet and route network, the mega airport aligns with the country’s vision to become a premier travel and logistics center in Africa.
