Overview

• The mandate letter was signed by Ethiopian Airlines’ Chief Commercial Officer Lemma Yadecha and AfDB President Akinwumi Adesina, formalizing the bank’s role as lead arranger and global coordinator.
• The African Development Bank committed US$500 million, pending board sign-off, and will spearhead efforts to mobilize roughly US$8 billion toward the overall US$10 billion project.
• Groundwork for the greenfield airport is planned for late 2025, with Phase I targeted for completion by November 2029 and full build-out by around 2030.
• The new facility will handle 60 million passengers annually at launch (expandable to 110 million) and process up to 3.73 million tonnes of cargo, complemented by an integrated airport city linked by rail and expressway.
• Formal financing arrangements remain subject to AfDB board approval and subsequent agreements to secure the balance of public and private investment.