•  A Chinese bank has reportedly pledged $500M to the project, joining the AfDB's similar commitment as global investor interest grows.
• The $12.5B project relies on Ethiopian Airlines' resilience in foreign revenue, with the group self-funding a significant portion.
• With an annual capacity of 110M passengers, the airport aims to be Africa's largest, drawing interest from US, EU, and Chinese lenders.

A China-based bank has reportedly pledged $500 million toward the development of the Bishoftu International Airport in Ethiopia, a project spearheaded by Africa’s largest carrier, Ethiopian Airlines Group (EAG), according to a disclosure made by the company's CEO Mesfin Tasew Bekele in Rabat, Morocco, on the sidelines of the 2026 edition of the Africa Investment Forum. While Mr. Tasew did not disclose the institution's name, he confirmed the commitment as a significant step forward for the project.

The total investment cost for the new airport is estimated at $12.5 billion, including land acquisition, resettlement, and financing costs. According to project estimates, the financing gap to be filled by the private sector could reach approximately $8 billion. Mr. Tasew indicated that the fundraising discussion is building. "We are engaging a lot of financial institutions... in all parts of the world: Middle East, China, India, Europe, and North America," Tasew stated, noting that the response from potential lenders has been "very, very positive" so far.

The announcement in Morocco follows a strategic stop in Paris, France, on November 3rd. During that visit, EAG executives, advised by KPMG and Dar Al-Handasah Consultants, met with European investors to pitch the infrastructure project. While management has not explicitly detailed the immediate financial outcomes of the Paris meetings, the continued engagement in Rabat suggests a broad push to diversify funding sources.

As the group continues to acquire new aircraft and expand its fleet, Mr. Tasew sought to reassure potential lenders about the airline’s creditworthiness, particularly amid Ethiopia’s macroeconomic challenges, including foreign-exchange reserve shortages. "We generate 90% of our revenue in foreign currency... outside Ethiopia. So, the impact of the currency exchange rate change doesn't affect us so much," Tasew explained to Ecofin Agency, dismissing the forex shortage as a significant risk for the project.

Amid a global geopolitical landscape marked by instability across regions, the CEO emphasized that Ethiopian Airlines has built resilience over the decades. He noted that the company has "excellent experience in managing these types of... geopolitical risks," having remained profitable even during the height of the COVID-19 pandemic and recent regional conflicts.

The Bishoftu project represents more than just infrastructure; it reflects a broader African economic reality. It embodies a high stakes bet on the future by an airline that has survived regional turbulence that grounded many of its peers. Demonstrating its commitment, Ethiopian Airlines Group intends to finance 20% of the project through its own equity.

The entry of a Chinese investor signals a heating rivalry among international actors, with American entities expressing strong interest alongside European investors. When fully developed, the Bishoftu International Airport is projected to have a capacity of 110 million passengers annually. This would make it the largest airport in Africa and a powerful catalyst for trade, tourism, and regional investment.

Idriss Linge