Ethiopian Airlines, one of Africa's top airlines, has taken a significant step towards expanding its airport capacity with the signing of a 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 deal was signed by Mr. Mesfin Tasew, Ethiopian Airlines Group CEO, and Mrs. Nnenna Nwabufo, Vice President for Regional Development, Integration, and Strategy, representing the AfDB, in the presence of AfDB President Dr. Akinwumi Adesina. The project is expected to meet the increasing demand for passengers and cargo, solidifying Ethiopian Airlines' position as a prominent airline in Africa.

The AfDB has committed $1.2 billion in investments to support the project, which is expected to have a significant impact on Ethiopia's economy. During the signing event, Ethiopian Finance Minister Ahmed Shide emphasized Prime Minister Abiy Ahmed's economic reforms and praised the AfDB for its support. The new airport will be built in the Oromia region's Abusera, close to Bishoftu.

The Bishoftu International Airport Development Project is part of the Ethiopian government's efforts to transform the country's economy. Dr. Akinwumi Adesina, AfDB President, 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 is expected to strengthen their already solid alliance, with both parties committing to strategic and creative activities that benefit all Ethiopians and the region as a whole. The project is expected to have a positive impact on regional trade, economy, and tourism, given Ethiopian Airlines' vast network throughout Africa.

The development of the Bishoftu International Airport is a significant milestone for Ethiopia and the African continent as a whole. With the AfDB's support, Ethiopian Airlines is poised to become a major player in the global aviation industry, and the project is expected to create new opportunities for economic growth and development in the region.

In addition to the airport project, Ahmed Shide asked the AfDB to assist the macroeconomic reform program and transformative projects related to renewable energy and regional integration, among other things. The partnership between Ethiopian Airlines and the AfDB is expected to have a far-reaching impact on the region's economic development.

The construction of the Bishoftu International Airport is a testament to the growing importance of Africa in the global economy. As the continent continues to grow and develop, projects like this will play a critical role in shaping the future of African economies and connecting the region to the rest of the world.