Ethiopian Airlines, one of Africa's top airlines, has signed a major deal with the African Development Bank (AfDB) to develop the Bishoftu International Airport Development Project. The $7.8 billion project aims to increase Ethiopia's airport capacity to handle 60 million passengers annually by 2040, up from the current 17 million.

The memorandum of understanding was signed by Mr. Mesfin Tasew, Ethiopian Airlines Group CEO, and Mrs. Nnenna Nwabufo, Vice President for Regional Development, Integration, and Strategy, representing the African Development Bank. The project is part of Ethiopian Airlines' efforts to meet the increasing demand for passengers and cargo in the region.

During the signing event, Ethiopian Finance Minister Ahmed Shide emphasized Prime Minister Abiy Ahmed's economic reforms and praised the AfDB for its support, which included $1.2 billion in investments. The new airport will be built in the Oromia region's Abusera, close to Bishoftu.

The project is expected to have a significant impact on the region's economy, with Ethiopian Airlines being a prominent airline in Africa that has a big influence on regional trade, economy, and tourism. The airline's vast network throughout Africa makes it easier to transport people, goods, and services, promoting economic growth and development.

AfDB President, Dr. Akinwumi Adesina, applauded the Ethiopian Government for its 8.1% GDP growth in the past year and the explosive growth of Addis Ababa under Prime Minister Abiy Ahmed's leadership. He emphasized the Bank's total dedication to supporting the new airport development project, which the president called an African flagship project.

The partnership between Ethiopian Airlines and the AfDB demonstrates the commitment of both parties to strengthening their alliance and promoting economic development in the region. Through strategic and creative activities, they aim to benefit all Ethiopians and the region as a whole.

The Bishoftu International Airport Development Project is a significant milestone in Ethiopia's efforts to become a major hub for air travel in Africa. With the AfDB's support, the project is expected to drive economic growth, create jobs, and increase connectivity in the region.

As the largest airport development project in Africa, the Bishoftu International Airport Development Project is expected to have far-reaching implications for the region's economy and development. The project's success will depend on the collaboration and commitment of all stakeholders involved.

In conclusion, the partnership between Ethiopian Airlines and the AfDB marks a significant step forward in the development of Ethiopia's airport infrastructure. The project's potential to drive economic growth, create jobs, and increase connectivity in the region makes it a crucial investment in Africa's future.