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). The partnership aims to develop the Bishoftu International Airport Development Project, a $7.8 billion initiative that seeks to increase Ethiopia's airport capacity to handle 60 million passengers annually by 2040.

The agreement was formalized through a memorandum of understanding between Ethiopian Airlines Group CEO, Mr. Mesfin Tasew, and Mrs. Nnenna Nwabufo, Vice President for Regional Development, Integration, and Strategy, representing the AfDB. The event was attended by AfDB President Dr. Akinwumi Adesina and Ethiopian Finance Minister Ahmed Shide.

The Bishoftu International Airport Development Project is a response to the growing demand for air travel in Ethiopia. Currently, the country's airport capacity stands at 17 million passengers annually, which is expected to increase significantly with the new airport. The project will be built in the Oromia region's Abusera, close to Bishoftu.

Ethiopian Finance Minister Ahmed Shide highlighted the importance of the project, praising the AfDB for its support, which includes $1.2 billion in investments. He also emphasized Prime Minister Abiy Ahmed's economic reforms and asked the development bank to assist in the macroeconomic reform program and transformative projects related to renewable energy and regional integration.

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 he 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 new airport will not only increase air travel capacity but also have a positive impact on regional trade, economy, and tourism.

Ethiopian Airlines, with its vast network throughout Africa, is a prominent airline in Africa that has a significant influence on regional trade, economy, and tourism. The airline's ambitious project is a testament to its commitment to meeting the growing demand for air travel in the region.

The development of the Bishoftu International Airport is expected to have far-reaching implications for the region, with the potential to increase economic growth, create jobs, and improve connectivity. As the project progresses, it will be interesting to see how it shapes the future of air travel in Africa.