The African Development Bank's $500 Million Investment in Ethiopia's New Mega-Airport
The African Development Bank (AfDB) has committed up to $500 million to help finance a new international airport in Ethiopia, which is being called the future largest in Africa. The total project cost is estimated at $10 billion.
Here are the key details of the project:
Location: The new airport, named Bishoftu International Airport (also known as Abusera Airport), will be located about 40 kilometers southeast of the capital, Addis Ababa.
Capacity: When fully operational, the airport is expected to handle up to 100-110 million passengers annually. This would make it one of the largest aviation hubs in the world. The first phase of construction is projected to have an initial capacity of 60 million passengers per year.
Purpose: The new airport is being developed to address the increasing capacity constraints of the existing Addis Ababa Bole International Airport, which is nearing its maximum annual capacity of 25 million passengers. It will serve as a hub for Ethiopian Airlines' international passenger and cargo traffic, while the current airport will focus on domestic flights.
Financing: The AfDB's $500 million contribution is an "anchor investment" and the bank will also lead efforts to raise an additional $7.8 billion for the project. Ethiopian Airlines will contribute 20% of the total project cost.
Completion: The project is scheduled for completion in 2029.
Senegal's Official Visit to Malaysia
Senegal's Minister of African Integration and Foreign Affairs, Yassine Fall, is on an official two-day visit to Malaysia from August 11th to 12th. The visit is a reciprocal one following a trip by Malaysia's Foreign Minister to Senegal in May 2024.
The primary goals of the visit are to:
Strengthen Bilateral Cooperation: The minister is meeting with Malaysian officials, including the Prime Minister and the Minister of Foreign Affairs, to review progress on cooperation between the two countries.
Enhance Collaboration in Key Sectors: Discussions are focused on boosting collaboration in areas such as trade and economy, education, health, the halal industry, and capacity building.
Review Regional and International Issues: The two sides are also expected to exchange views on various regional and international issues.
This visit is seen as a way to further reinforce the growing partnership between Malaysia and Senegal, which established diplomatic relations in 1986.
